MQL5: Guide to creating MT5 Indicators

Price is the most unpredictable thing in the world, surprising many people with its bursts, reversals, figures, and pirouettes.

In fact, the currency market and adrenaline don’t go together at all. Only a well-thought-out plan and controlled emotions can keep the market stable. If you don’t have a good understanding of the market, you can’t do this. You also need to be able to predict the market and apply these skills to your trading strategy. Every trader should start with a trading plan and a set of rules for how to act. You might be able to use technical analysis and forex indicators to help you along.

Charts can be used for technical analysis if they have indicators on them. In reality, these are computer programs that change the appearance of the price and/or volume based on mathematical calculations, allowing the trader to predict how the market will move in the future.

There are a lot of things that indicators can tell you:

1. Help with putting things in place;
2. Create signals for when to enter and exit trades;
3. Demonstrate a real market trend, not a bunch of noise that’s hard to understand.
4. To make it easier to do the math and show the information you need (spread size, lot, commission, time, and sessions):
5. This allows you to make your own trading strategy.
6. Make it easier and clearer for people to buy and sell things, or
7. Be used to making expert advisors, which can trade for you 24 hours a day instead of you.
8. Use this information to figure out what the price should be (rate of change; volatility; extremes; direction; angle; strength; volume).
9. It will help you look for unique patterns and historical coincidences that have happened before and are likely to happen again.

Some of the benefits of using indicators are shown below.

• An easy-to-use app
• Signals that are easy to see.
• Make the markup process easier and save time by making it faster.
• Because they are so versatile, you can use them to trade almost any kind of currency pair and anything else you want.
• People who are good at programming and can work with a trading advisor are easy to get.
• They are the starting point for making a trading strategy.

This class is all about how to make your own indicators, so you can use them to get even more out of indicators.