Algorithmic Trading Articles for Indicators

Price Action Analysis Toolkit Development (Part 49): Integrating Trend, Momentum, and Volatility Indicators into One MQL5 System

Simplify your MetaTrader  5 charts with the Multi  Indicator  Handler EA. This interactive dashboard merges trend, momentum, and volatility indicators into one real‑time panel. Switch instantly between profiles to focus on the analysis you need most. Declutter with one‑click Hide/Show controls and stay focused on price action. Read on to learn step‑by‑step how to build and customize it yourself in MQL5.

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.

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.

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.

Understanding functions in MQL5 with applications

Functions are critical things in any programming language, it helps developers apply the concept of (DRY) which means do not repeat yourself, and many other benefits. In this article, you will find much more information about functions and how we can create our own functions in MQL5 with simple applications that can be used or called in any system you have to enrich your trading system without complicating things.

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.

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.

$Parafrac Oscillator: Combination of Parabolic and Fractal Indicator$

We will explore how the Parabolic SAR and the Fractal indicator can be combined to create a new oscillator-based indicator. By integrating the unique strengths of both tools, traders can aim at developing a more refined and effective trading strategy.

Price Action Analysis Toolkit Development (Part 51): Revolutionary Chart Search Technology for Candlestick Pattern Discovery

This article is intended for algorithmic traders, quantitative analysts, and MQL5 developers interested in enhancing their understanding of candlestick pattern recognition through practical implementation. It provides an in‑depth exploration of the CandlePatternSearch.mq5 Expert Advisor—a complete framework for detecting, visualizing, and monitoring classical candlestick formations in MetaTrader 5. Beyond a line‑by‑line review of the code, the article discusses architectural design, pattern detection logic, GUI integration, and alert mechanisms, illustrating how traditional price‑action analysis can be automated efficiently.

Developing a Trading Strategy: The Flower Volatility Index Trend-Following Approach

The relentless quest to decode market rhythms has led traders and quantitative analysts to develop countless mathematical models. This article has introduced the Flower Volatility Index (FVI), a novel approach that transforms the mathematical elegance of Rose Curves into a functional trading tool. Through this work, we have shown how mathematical models can be adapted into practical trading mechanisms capable of supporting both analysis and decision-making in real market conditions.

Market Positioning Codex for VGT with Kendall's Tau and Distance Correlation

In this article, we look to explore how a complimentary indicator pairing can be used to analyze the recent 5-year history of Vanguard Information Technology Index Fund ETF. By considering two options of algorithms, Kendall’s Tau and Distance-Correlation, we look to select not just an ideal indicator pair for trading the VGT, but also suitable signal-pattern pairings of these two indicators.

Price Action Analysis Toolkit Development (Part 52): Master Market Structure with Multi-Timeframe Visual Analysis

This article presents the Multi‑Timeframe Visual Analyzer, an MQL5 Expert Advisor that reconstructs and overlays higher‑timeframe candles directly onto your active chart. It explains the implementation, key inputs, and practical outcomes, supported by an animated demo and chart examples showing instant toggling, multi‑timeframe confirmation, and configurable alerts. Read on to see how this tool can make chart analysis faster, clearer, and more efficient.

Mastering Kagi Charts in MQL5 (Part I): Creating the Indicator

Learn how to build a complete Kagi Chart engine in MQL5—constructing price reversals, generating dynamic line segments, and updating Kagi structures in real time. This first part teaches you how to render Kagi charts directly on MetaTrader 5, giving traders a clear view of trend shifts and market strength while preparing for automated Kagi-based trading logic in Part 2.

Price Action Analysis Toolkit Development (Part 53): Pattern Density Heatmap for Support and Resistance Zone Discovery

This article introduces the Pattern Density Heatmap, a price‑action mapping tool that transforms repeated candlestick pattern detections into statistically significant support and resistance zones. Rather than treating each signal in isolation, the EA aggregates detections into fixed price bins, scores their density with optional recency weighting, and confirms levels against higher‑timeframe data. The resulting heatmap reveals where the market has historically reacted—levels that can be used proactively for trade timing, risk management, and strategy confidence across any trading style.

Building a Professional Trading System with Heikin Ashi (Part 1): Developing a custom indicator

This article is the first installment in a two-part series designed to impart practical skills and best practices for writing custom indicators in MQL5. Using Heikin Ashi as a working example, the article explores the theory behind Heikin Ashi charts, explains how Heikin Ashi candlesticks are calculated, and demonstrates their application in technical analysis. The centerpiece is a step-by-step guide to developing a fully functional Heikin Ashi indicator from scratch, with clear explanations to help readers understand what to code and why. This foundational knowledge sets the stage for Part Two, where we will build an expert advisor that trades based on Heikin Ashi logic.

Developing a Trading Strategy: Using a Volume-Bound Approach

In the world of technical analysis, price often takes center stage. Traders meticulously map out support, resistance, and patterns, yet frequently ignore the critical force that drives these movements: volume. This article delves into a novel approach to volume analysis: the Volume Boundary indicator. This transformation, utilizing sophisticated smoothing functions like the butterfly and triple sine curves, allows for clearer interpretation and the development of systematic trading strategies.

Codex Pipelines: From Python to MQL5 for Indicator Selection — A Multi-Quarter Analysis of the FXI ETF

We continue our look at how MetaTrader can be used outside its forex trading ‘comfort-zone’ by looking at another tradable asset in the form of the FXI ETF. Unlike in the last article where we tried to do ‘too-much’ by delving into not just indicator selection, but also considering indicator pattern combinations, for this article we will swim slightly upstream by focusing more on indicator selection. Our end product for this is intended as a form of pipeline that can help recommend indicators for various assets, provided we have a reasonable amount of their price history.

How to build and optimize a cycle-based trading system (Detrended Price Oscillator - DPO)

This article explains how to design and optimise a trading system using the Detrended Price Oscillator (DPO) in MQL5. It outlines the indicator's core logic, demonstrating how it identifies short-term cycles by filtering out long-term trends. Through a series of step-by-step examples and simple strategies, readers will learn how to code it, define entry and exit signals, and conduct backtesting. Finally, the article presents practical optimization methods to enhance performance and adapt the system to changing market conditions.

Codex Pipelines, from Python to MQL5, for Indicator Selection: A Multi-Quarter Analysis of the XLF ETF with Machine Learning

We continue our look at how the selection of indicators can be pipelined when facing a ‘none-typical’ MetaTrader asset. MetaTrader 5 is primarily used to trade forex, and that is good given the liquidity on offer, however the case for trading outside of this ‘comfort-zone’, is growing bolder with not just the overnight rise of platforms like Robinhood, but also the relentless pursuit of an edge for most traders. We consider the XLF ETF for this article and also cap our revamped pipeline with a simple MLP.

Introduction to MQL5 (Part 32): Mastering API and WebRequest Function in MQL5 (VI)

This article will show you how to visualize candle data obtained via the WebRequest function and API in candle format. We'll use MQL5 to read the candle data from a CSV file and display it as custom candles on the chart, since indicators cannot directly use the WebRequest function.

Creating Custom Indicators in MQL5 (Part 1): Building a Pivot-Based Trend Indicator with Canvas Gradient

In this article, we create a Pivot-Based Trend Indicator in MQL5 that calculates fast and slow pivot lines over user-defined periods, detects trend directions based on price relative to these lines, and signals trend starts with arrows while optionally extending lines beyond the current bar. The indicator supports dynamic visualization with separate up/down lines in customizable colors, dotted fast lines that change color on trend shifts, and optional gradient filling between lines, using a canvas object for enhanced trend-area highlighting.

Larry Williams Market Secrets (Part 1): Building a Swing Structure Indicator in MQL5

A practical guide to building a Larry Williams–style market structure indicator in MQL5, covering buffer setup, swing-point detection, plot configuration, and how traders can apply the indicator in technical market analysis.

Creating Custom Indicators in MQL5 (Part 2): Building a Gauge-Style RSI Display with Canvas and Needle Mechanics

In this article, we develop a gauge-style RSI indicator in MQL5 that visualizes Relative Strength Index values on a circular scale with a dynamic needle, color-coded ranges for overbought and oversold levels, and customizable legends. We utilize the Canvas class to draw elements like arcs, ticks, and pies, ensuring smooth updates on new RSI data.

From Novice to Expert: Navigating Market Irregularities

Market rules are continuously evolving, and many once-reliable principles gradually lose their effectiveness. What worked in the past no longer works consistently over time. Today’s discussion focuses on probability ranges and how they can be used to navigate market irregularities. We will leverage MQL5 to develop an algorithm capable of trading effectively even in the choppiest market conditions. Join this discussion to find out more.

MQL5 Wizard Techniques you should know (Part 82): Using Patterns of TRIX and the WPR with DQN Reinforcement Learning

In the last article, we examined the pairing of Ichimoku and the ADX under an Inference Learning framework. For this piece we revisit, Reinforcement Learning when used with an indicator pairing we considered last in ‘Part 68’. The TRIX and Williams Percent Range. Our algorithm for this review will be the Quantile Regression DQN. As usual, we present this as a custom signal class designed for implementation with the MQL5 Wizard.

Introduction to MQL5 (Part 22): Building an Expert Advisor for the 5-0 Harmonic Pattern

This article explains how to detect and trade the 5-0 harmonic pattern in MQL5, validate it using Fibonacci levels, and display it on the chart.

Introduction to MQL5 (Part 24): Building an EA that Trades with Chart Objects

This article teaches you how to create an Expert Advisor that detects support and resistance zones drawn on the chart and executes trades automatically based on them.

MQL5 Wizard Techniques you should know (Part 84): Using Patterns of Stochastic Oscillator and the FrAMA - Conclusion

The Stochastic Oscillator and the Fractal Adaptive Moving Average are an indicator pairing that could be used for their ability to compliment each other within an MQL5 Expert Advisor. We introduced this pairing in the last article, and now look to wrap up by considering its 5 last signal patterns. In exploring this, as always, we use the MQL5 wizard to build and test out their potential.

MQL5 Wizard Techniques you should know (Part 85): Using Patterns of Stochastic-Oscillator and the FrAMA with Beta VAE Inference Learning

This piece follows up ‘Part-84’, where we introduced the pairing of Stochastic and the Fractal Adaptive Moving Average. We now shift focus to Inference Learning, where we look to see if laggard patterns in the last article could have their fortunes turned around. The Stochastic and FrAMA are a momentum-trend complimentary pairing. For our inference learning, we are revisiting the Beta algorithm of a Variational Auto Encoder. We also, as always, do the implementation of a custom signal class designed for integration with the MQL5 Wizard.

Creating Custom Indicators in MQL5 (Part 3): Multi-Gauge Enhancements with Sector and Round Styles

In this article, we enhance the gauge-based indicator in MQL5 to support multiple oscillators, allowing user selection through an enumeration for single or combined displays. We introduce sector and round gauge styles via derived classes from a base gauge framework, improving case rendering with arcs, lines, and polygons for a more refined visual appearance.

From Novice to Expert: Support and Resistance Strength Indicator (SRSI)

In this article, we will share insights on how to leverage MQL5 programming to pinpoint market levels—differentiating between weaker and strongest price levels. We will fully develop a working, Support and Resistance Strength Indicator (SRSI).

MQL5 Wizard Techniques you should know (Part 83): Using Patterns of Stochastic Oscillator and the FrAMA — Behavioral Archetypes

The Stochastic Oscillator and the Fractal Adaptive Moving Average are another indicator pairing that could be used for their ability to compliment each other within an MQL5 Expert Advisor. We look at the Stochastic for its ability to pinpoint momentum shifts, while the FrAMA is used to provide confirmation of the prevailing trends. In exploring this indicator pairing, as always, we use the MQL5 wizard to build and test out their potential.

Price Action Analysis Toolkit Development (Part 47): Tracking Forex Sessions and Breakouts in MetaTrader 5

Global market sessions shape the rhythm of the trading day, and understanding their overlap is vital to timing entries and exits. In this article, we’ll build an interactive trading sessions  EA that brings those global hours to life directly on your chart. The EA automatically plots color‑coded rectangles for the Asia, Tokyo, London, and New York sessions, updating in real time as each market opens or closes. It features on‑chart toggle buttons, a dynamic information panel, and a scrolling ticker headline that streams live status and breakout messages. Tested on different brokers, this EA combines precision with style—helping traders see volatility transitions, identify cross‑session breakouts, and stay visually connected to the global market’s pulse.

Mastering Quick Trades: Overcoming Execution Paralysis

The UT BOT ATR Trailing Indicator is a personal and customizable indicator that is very effective for traders who like to make quick decisions and make money from differences in price referred to as short-term trading (scalpers) and also proves to be vital and very effective for long-term traders (positional traders).

From Novice to Expert: Parameter Control Utility

Imagine transforming the traditional EA or indicator input properties into a real-time, on-chart control interface. This discussion builds upon our foundational work in the Market Periods Synchronizer indicator, marking a significant evolution in how we visualize and manage higher-timeframe (HTF) market structures. Here, we turn that concept into a fully interactive utility—a dashboard that brings dynamic control and enhanced multi-period price action visualization directly onto the chart. Join us as we explore how this innovation reshapes the way traders interact with their tools.

Sigma Score Indicator for MetaTrader 5: A Simple Statistical Anomaly Detector

Build a practical MetaTrader 5 “Sigma Score” indicator from scratch and learn what it really measures: The z-score of log returns (how many standard deviations the latest move is from the recent average). The article walks through every code block in OnInit(), OnCalculate(), and OnDeinit(), then shows how to interpret thresholds (e.g., ±2) and apply the Sigma Score as a simple “market stress meter” for mean-reversion and momentum trading.

Creating Custom Indicators in MQL5 (Part 4): Smart WaveTrend Crossover with Dual Oscillators

In this article, we develop a custom indicator in MQL5 called Smart WaveTrend Crossover, utilizing dual WaveTrend oscillators—one for generating crossover signals and another for trend filtering—with customizable parameters for channel, average, and moving average lengths. The indicator plots colored candles based on the trend direction, displays buy and sell arrow signals on crossovers, and includes options to enable trend confirmation and adjust visual elements like colors and offsets.

Price Action Analysis Toolkit Development (Part 54): Filtering Trends with EMA and Smoothed Price Action

This article explores a method that combines Heikin‑Ashi smoothing with EMA20 High and Low boundaries and an EMA50 trend filter to improve trade clarity and timing. It demonstrates how these tools can help traders identify genuine momentum, filter out noise, and better navigate volatile or trending markets.

Larry Williams Market Secrets (Part 5): Automating the Volatility Breakout Strategy in MQL5

This article demonstrates how to automate Larry Williams’ volatility breakout strategy in MQL5 using a practical, step-by-step approach. You will learn how to calculate daily range expansions, derive buy and sell levels, manage risk with range-based stops and reward-based targets, and structure a professional Expert Advisor for MetaTrader 5. Designed for traders and developers looking to transform Larry Williams’ market concepts into a fully testable and deployable automated trading system.

Price Action Analysis Toolkit (Part 55): Designing a CPI Mini-Candle Overlay for Intra-bar Pressure

This article presents the design and MetaTrader 5 implementation of the Candle Pressure Index (CPI)—a CLV-based overlay that visualizes intra-Bar buying and selling pressure directly on price charts. The discussion focuses on candle structure, pressure classification, visualization mechanics, and a non-repainting, transition-based alert system designed for consistent behavior across timeframes and instruments.