ChandelierStops_v1_HTF_Signal - MetaTrader 5 script

ChandelierStops_v1_HTF_Signal indicator shows the trend direction or the indicator on the selected bar by ChandelierStops_v1 as a graphical object with a colored indication of the trend or trading direction. It also triggers an alarm and plays an audio signal.

If the trend continues on the selected bar, the indicator will show a right arrow. Its color corresponds to the trend direction. If the trend of the selected bar has changed, the indicator displays diagonal arrows. Its color and orientation correspond to the direction of trade.

All input parameters can be divided into three major groups:

 Enter string symbol_= ”” ; // Financial assets
Input ENUM_TIMEFRAMES time range = PERIOD_H6 ; // time range for indicator calculation
Input unit Length = 20 ; Input unit ATR Period = 10 ; Input double Kv= 3 ;

 //----Indicator display settings
Enter the unit signal column = 0 ; // Number of bars to get the signal from (0 - current bar)
Input stringSymbols_Sirname =INDICATOR_NAME "_label_" ; // Indicator label name
Input color Upsymbol_Color= turquoise in clr ; // Uptrend symbol color
Input color Dnsymbol_Color= clr dark pink ; // Downtrend symbol color
Input color IndName_color = clr dark orchid ; // indicator name color
Input unit symbol_size = 60 ; // signal symbol size
Input unit font size = 10 ; // Indicator name font size
Input integer X_1= 5 ; // Horizontal name offset
Input integer Y_1=- 15 ; // Vertical name offset
input boolean displayname = true ; // display indicator name
Input ENUM_BASE_CORNER what corner = CORNER_RIGHT_UPPER ; // position angle
Input unit X_= 0 ; // Horizontal offset
Input unit Y_= 20 ; // vertical offset

 //---- Alarm settings
Enter ENUM_ALERT_MODEalert_mode=OnlySound; // Trigger options
Input unit alarm count = 0 ; // number of alarms

If you want to use multiple ChandelierStops_v1_HTF_Signal indicators on one chart, each indicator should have its own Symbols_Sirname (indicator label name) string variable value.

This indicator requires the compiled indicator file ChandelierStops_v1.mq5. Place it in <terminal data folder>\MQL5\Indicators\.

Figure 1. ChandelierStops_v1_HTF_Signal. Trend continuation signal

Figure 2. ChandelierStops_v1_HTF_Signal indicator. trading signals

Attachment download

📎 chandelierstops_v1.mq5 (11.46 KB)

📎 chandelierstops_v1_htf_signal.mq5 (14.17 KB)

Source: MQL5 #13045