Page 10 — Algorithmic Trading Articles for Indicators

Creating Custom Indicators in MQL5 (Part 7): Hybrid Time Price Opportunity (TPO) Market Profiles for Session Analysis

In this article, we develop a custom indicator in MQL5 for hybrid Time Price Opportunity (TPO) market profiles, supporting multiple session timeframes such as intraday, daily, weekly, monthly, and fixed periods with timezone adjustments. The indicator quantizes prices into a grid, tracks session data including highs, lows, opens, and closes, and calculates key elements like the point of control and value area based on TPO counts. It renders profiles visually on the chart with customizable colors for TPO letters, single prints, value areas, POC, and close markers, enabling detailed session analysis

Market Simulation (Part 14): Sockets (VIII)

Many programmers might assume we should abandon using Excel and move directly to Python, using some packages that allow Python to generate an Excel file for later analysis of results. However, as mentioned in the previous article, although this solution is the simplest for many programmers, it will not be accepted by some users. And in this particular case, the user is always right. As programmers, we must find a way to make everything work.

Introduction to MQL5 (Part 31): Mastering API and WebRequest Function in MQL5 (V)

Learn how to use WebRequest and external API calls to retrieve recent candle data, convert each value into a usable type, and save the information neatly in a table format. This step lays the groundwork for building an indicator that visualizes the data in candle format.

Developing A Custom Account Performance Matrix Indicator

This indicator acts as a discipline enforcer by tracking account equity, profit/loss, and drawdown in real-time while displaying a performance dashboard. It can help traders stay consistent, avoid overtrading, and comply with prop-firm challenge rules.

In this article, we enhance the hybrid Time Price Opportunity (TPO) market profile indicator in MQL5 by integrating volume data to calculate volume-based point of control, value areas, and volume-weighted average price with customizable highlighting options. The system introduces advanced features like initial balance detection, key level extension lines, split profiles, and alternative TPO characters such as squares or circles for improved visual analysis across multiple timeframes.

Developing a Trading Strategy: The Butterfly Oscillator Method

In this article, we demonstrated how the fascinating mathematical concept of the Butterfly Curve can be transformed into a practical trading tool. We constructed the Butterfly Oscillator and built a foundational trading strategy around it. The strategy effectively combines the oscillator's unique cyclical signals with traditional trend confirmation from moving averages, creating a systematic approach for identifying potential market entries.

Price Action Analysis Toolkit Development (Part 63): Automating Rising and Falling Wedge Detection in MQL5

In this part of the Price Action Analysis Toolkit Development series, we develop an MQL5 indicator that automatically detects rising and falling wedge patterns in real time. The system confirms pivot structures, validates boundary convergence mathematically, prevents overlapping formations, and monitors breakout and failure conditions with precise visual feedback. Built using a clean object-oriented architecture, this implementation converts subjective wedge recognition into a structured, state-aware analytical component designed to strengthen disciplined price action analysis.

Engineering Trading Discipline into Code (Part 3): Enforcing Symbol-Level Trading Boundaries with a Whitelist System in MQL5

This article details an MQL5 framework that restricts trading to an approved set of symbols. The solution combines a shared library, a configuration dashboard, and an enforcement Expert Advisor that validates each trade against a whitelist and logs blocked attempts. It includes fully functional code examples, a clear explanation of the structural design decisions, and validation tests that confirm reliable symbol filtering, controlled market exposure, and transparent monitoring of rule enforcement.

Markets Positioning Codex in MQL5 (Part 2): Bitwise Learning, with Multi-Patterns for Nvidia

We continue our new series on Market-Positioning, where we study particular assets, with specific trade directions over manageable test windows. We started this by considering Nvidia Corp stock in the last article, where we covered 5 signal patterns from the complimentary pairing of the RSI and DeMarker oscillators. For this article, we cover the remaining 5 patterns and also delve into multi-pattern options that not only feature untethered combinations of all ten, but also specialized combinations of just a pair.

Markets Positioning Codex in MQL5 (Part 1): Bitwise Learning for Nvidia

We commence a new article series that builds upon our earlier efforts laid out in the MQL5 Wizard series, by taking them further as we step up our approach to systematic trading and strategy testing. Within these new series, we’ll concentrate our focus on Expert Advisors that are coded to hold only a single type of position - primarily longs. Focusing on just one market trend can simplify analysis, lessen strategy complexity and expose some key insights, especially when dealing in assets beyond forex. Our series, therefore, will investigate if this is effective in equities and other non-forex assets, where long only systems usually correlate well with smart money or institution strategies.

Larry Williams Market Secrets (Part 14): Detecting Hidden Smash Day Reversals with a Custom Indicator

This article develops a practical MQL5 indicator that identifies Hidden Smash Day bars by strict numeric criteria and optional confirmation on the following session. We cover detection routines, buffer registration, and plot configuration to place arrows at valid bars. The approach delivers stable, non-repainting signals for historical testing and real-time monitoring.

From Novice to Expert: Enhancing Liquidity Strategies with Multi-Timeframe Structural Confirmation in MQL5

The alignment of higher-timeframe liquidity structures with lower-timeframe reversal patterns can greatly influence both the likelihood and direction of the next price movement. By integrating structural liquidity zones from higher timeframes with precise reversal confirmations on lower timeframes, traders can improve entry timing and overall trade quality. This article demonstrates how to reinforce liquidity-based trading strategies through higher-timeframe structural confirmation—and how to implement this approach effectively using MQL5.

Cluster analysis (Part I): Mastering the slope of indicator lines

Cluster analysis is one of the most important elements of artificial intelligence. In this article, I attempt applying the cluster analysis of the indicator slope to get threshold values for determining whether a market is flat or following a trend.

Developing Trading Strategy: Pseudo Pearson Correlation Approach

Generating new indicators from existing ones offers a powerful way to enhance trading analysis. By defining a mathematical function that integrates the outputs of existing indicators, traders can create hybrid indicators that consolidate multiple signals into a single, efficient tool. This article introduces a new indicator built from three oscillators using a modified version of the Pearson correlation function, which we call the Pseudo Pearson Correlation (PPC). The PPC indicator aims to quantify the dynamic relationship between oscillators and apply it within a practical trading strategy.

Developing a Trading Strategy: The Triple Sine Mean Reversion Method

This article introduces the Triple Sine Mean Reversion Method, a trading strategy built upon a new mathematical indicator — the Triple Sine Oscillator (TSO). The TSO is derived from the sine cube function, which oscillates between –1 and +1, making it suitable for identifying overbought and oversold market conditions. Overall, the study demonstrates how mathematical functions can be transformed into practical trading tools.

From Novice to Expert: Detecting Liquidity Zone Flips Using MQL5

This article presents an MQL5 indicator that detects and manages liquidity zone flips. It identifies supply and demand zones from higher timeframes using a base–impulse pattern, applies objective breakout and impulse thresholds, and flips zones automatically when structure changes. The result is a dynamic support‑resistance map that reduces manual redraws and gives you clear, actionable context for signals and retests.

Creating Custom Indicators in MQL5 (Part 9): Order Flow Footprint Chart with Price Level Volume Tracking

This article builds an order-flow footprint indicator in MQL5 that aggregates tick-by-tick volume into quantized price levels and supports Bid vs Ask and Delta display modes. A canvas overlay renders color-scaled volume text aligned with the candles and updates on every tick. You will learn sorting of price levels, max-value normalization for color mapping, and responsive redraws on zoom, scroll, and resize to read volume distribution and aggressor dominance inside each bar.

Developing Market Entropy Indicator: Trading System Based on Information Theory

This article explores the development of a Market Entropy Indicator based on principles from Information Theory to measure the uncertainty and information content within financial markets. By applying concepts such as Shannon Entropy to price movements, the indicator quantifies whether the market is structured (trending), transitioning, or chaotic.

Creating Custom Indicators in MQL5 (Part 10): Enhancing the Footprint Chart with Per-Bar Volume Sentiment Information Box

The article enhances an MQL5 footprint indicator with a compact box above each candle that summarizes net delta, total volume, and buy/sell percentages. We implement supersampled anti‑aliased rendering, rounded corners via arc and quadrilateral rasterization, and per‑pixel alpha compositing. Supporting utilities include ARGB conversion, scanline fills, and box‑filter downsampling. The box delivers fast sentiment reads that stay legible across zoom levels.

Creating Custom Indicators in MQL5 (Part 11): Enhancing the Footprint Chart with Market Structure and Order Flow Layers

This article extends the MQL5 footprint chart with market-structure and order-flow layers: volume-profile bars, point of control, value-area highlighting, stacked imbalance detection, absorption zones, and single-print/unfinished markers. We expand bar data structures, add functions for POC/value area, imbalance, and absorption, and build a fixed-order rendering pipeline. You will get ready-to-use inputs, metadata, and drawing utilities to integrate and customize these layers in your indicator.

Building a Volume Bubble Indicator in MQL5 Using Standard Deviation

The article demonstrates how to build a Volume Bubble Indicator in MQL5 that visualizes market activity using statistical normalization. It covers how to work with tick and real volume, compute the mean and standard deviation over a rolling window, and normalize volume values to identify relative strength. You will implement chart objects to display bubbles with dynamic size and color, providing a clear representation of volume intensity directly on the chart.

Price Action Analysis Toolkit Development (Part 26): Pin Bar, Engulfing Patterns and RSI Divergence (Multi-Pattern) Tool

Aligned with our goal of developing practical price-action tools, this article explores the creation of an EA that detects pin bar and engulfing patterns, using RSI divergence as a confirmation trigger before generating any trading signals.