ChandelExit_HTF_Signal - indicator for MetaTrader 5

The ChandelExit_HTF_Signal indicator shows a trend direction or a signal generated by the ChandelExitSign indicator at the chosen bar as a graphical object with colored indication of trend or trade direction. It also triggers alerts and plays audio signals.

If the trend continues at the selected bar, the indicator displays a right arrow. Its color corresponds to the trend direction. If the trend has changed at the selected bar, the indicator displays a diagonal arrow. Its color and direction correspond to the trade direction.

All input parameters can be divided into three large groups:

1. The ChandelExitSign indicator input parameters:

   input string Symbol_="";                               // Financial asset
   input ENUM_TIMEFRAMES Timeframe=PERIOD_H6;             // Timeframe for indicator calculation
   input uint RangePeriod=15;
   input uint Shift=1;
   input uint ATRPeriod=14;
   input uint MultipleATR=4;
   

2. The ChandelExit_HTF_Signal indicator input parameters that are necessary for the indicator visualization:

   //---- indicator display settings
   input uint SignalBar=0;                                // Bar number for getting a signal (0 - current bar)
   input string Symbols_Sirname=INDICATOR_NAME"_Label_";  // Indicator labels names
   input color Upsymbol_Color=clrLime;                    // Uptrend symbol color
   input color Dnsymbol_Color=clrViolet;                  // Downtrend symbol color
   input color IndName_Color=clrDarkOrchid;               // Indicator name color
   input uint Symbols_Size=60;                            // Signal symbols size
   input uint Font_Size=10;                               // Indicator name font size
   input int X_1=5;                                       // Horizontal name offset
   input int Y_1=-15;                                     // Vertical name offset
   input bool ShowIndName=true;                           // Display the indicator name
   input ENUM_BASE_CORNER  WhatCorner=CORNER_RIGHT_UPPER; // Location corner
   input uint X_=0;                                       // Horizontal offset
   input uint Y_=20;                                      // Vertical offset
   

3. The BinaryWave_HTF_Signal indicator input parameters that are necessary for triggering alerts and audio signals:

   //---- alerts settings
   input ENUM_ALERT_MODE alert_mode=OnlySound;  // Triggering option
   input uint AlertCount=0;                     // Number of alerts
   

If several ChandelExit_HTF_Signal indicators are to be used on one chart, each of them should have its own Symbols_Sirname (indicator labels names) string variable value.

This indicator requires the the compiled indicator file ChandelExitSign.mq5. Place it in <terminal_data_folder>\MQL5\Indicators\.

Fig.1. ChandelExit_HTF_Signal. Signal of trend continuation

Fig.2. The ChandelExit_HTF_Signal indicator. Signal for trade