AverageSizeBar - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Igor V. Kim is also known as KimIV.

This indicator is a version of Technical ATR and the smoothing method can be changed.

ATR always has an SMA, while the indicator implements all standard methods - SMA, EMA, SMMA and LWMA, as well as non-standard methods. In addition, horizontal movement of the indicator value is provided.

This indicator was first implemented in MQL4, published on May 26, 2007 (in Russian).

Indicator input parameters:

 //+------------------------------------------------+
//|Input parameters of the indicator|
//+------------------------------------------------+
Enter Smooth_Method XMA_Method= Mode_SMA ; // Average method
Input integer X length = 10 ; // smoothing depth
Input integer X phase = 15 ; // Smoothing parameter
Enter integer shift = 0 ; // horizontal movement of the indicator in bars

Complete list of possible smoothing methods:

It should be noted that the Phase parameter has completely different meanings for different smoothing algorithms. For JMA, it is an external phase variable that varies from -100 to +100. For T3, it is the smoothed ratio multiplied by 100 for better visualization; for VIDYA, it is the CMO oscillation period; for AMA, it is the slow EMA period. In other algorithms, these parameters do not affect smoothing. For AMA the fast EMA period is a fixed value, equal to 2 by default. For AMA, the ratio of raised powers is also equal to 2.

The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Attachment download

📎 averagesizebar.mq5 (6.96 KB)

📎 smoothalgorithms.mqh (133.8 KB)

Source: MQL5 #989

AverageSizeBar - Important points before using the MetaTrader 5 script

This page has been supplemented with structured instructions, focusing on the purpose of trading scripts, MT4/MT5 platform compatibility, testing procedures and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen trading scripts and are willing to do simulation verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

English Search Notes

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