Kuskus Starlight - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

Indicator name : Cuscus Starlight

describe :
The Kuskus Starlight is a technical indicator that acts as an oscillator, utilizing the Fisher Price Transform to help traders identify potential market trends and reversals. It normalizes over a specified period range and uses an adjustable smoothing parameter to adjust its responsiveness. This indicator is particularly valued for its role as a confirmation tool in trading systems, helping to validate potential trading signals.

background :
I discovered the Kuskus Starlight indicator through the Stonehill Forex and No Nonsense Forex (NNFX) YouTube channels. Both platforms emphasize its usefulness as a confirmation indicator within a trading system. According to Stonehill Forex, the indicator dates back to 2007, while NNFX mentions that it was released in 2017.

For a detailed overview and application of the Kuskus Starlight Indicator, you can refer to the following resources:

Articles by Stonehill Forex: Cuscus starlight as one confirm index

NNFX’s YouTube video: Cuscus starlight index

why i coded it :
As a MetaTrader 5 (MT5) user, I am unable to find a version of the Kuskus Starlight indicator that is compatible with MT5. Recognizing its potential value to traders in the MT5 environment, I took the initiative to code it, ensuring that its functionality and integrity remained consistent with the original algorithm.

Original MT4 code and algorithm :
The original version of this indicator was designed for MetaTrader 4 (MT4), published by Scriptor, and can be found here: Cuscus starlight -MQL4 code according to . My MT5 adaptation is based on this code and retains its core principles while being available to the MT5 community.

I hope the MT5 version of Kuskus Starlight will be a valuable addition to your trading toolkit!

Indicator Settings: Drawing Type Options

Plot type options: Line

Plot type options: Histogram

Drawing type options: Starry sky and night

Arrow type options: Multiple arrow types to choose from

Attachment download

📎kuskus_starlight.mq5 (16.21 KB)

Source: MQL5 #54894