WKBIBS - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources

WKBIBS is a next-generation oscillator irritable bowel syndrome indicator function that combines WKB and WKB.

This indicator is perfect even for Forex beginners and will be a great addition to the trading system of professionals. Compared to the standard, WKBIBS gives the earliest signal random oscillator. In contrast to all arrow indicators, it neither gives an error signal nor does it redraw. WKBIBS is no more visually complex than an arrow indicator, but it provides earlier, more correct signals.

When the blue oscillator crosses the upper green line downwards, it is an opportunity to sell, and when the blue oscillator crosses the lower red line upwards, it is a time to buy. It's very simple and, most importantly, very clear: at the moment the signal appears, the price on the chart is still the actual price that entered the market in the appropriate direction. The rest of the features include the possibility to use trend filters and a preferred trading direction that you can choose yourself.

Input parameters:

 //+------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------+
Input Smooth_Method IMA_Method= mode_SMA ; // IBS smoothing method
Input integer I length = 5 ; // IBS smoothing depth
Input integer I stage = 15 ; // IBS smoothing parameter
Enter Applied_price_IPC=PRICE_HIGH_CLOSE; // IBS application price
Enter integer shift = 0 ; // Horizontal shift of IBS (in bars)
Input boolean direct = true ; // indicator reverses vertically

External unit RP period = 25 ; // Extreme value search period
Input Smooth_Method SmMA_Method= mode_SMA ; // Smoothing method
Input integer S length = 3 ; // smoothing depth
Input integer S phase = 100 ; // Smoothing parameter
Input integer left shift = 0 ; // Horizontal shift of the channel indicator (in bars)

The indicator allows changing the smoothing method:

It should be noted that the Phase type parameters of different smoothing algorithms have completely different meanings. 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.

The indicator was first implemented in MQL4 and released in the code base on October 11, 2008.

Attachment download

📎 smoothalgorithms.mqh (133.8 KB)

📎 VKW_BandsIBS.mq5 (20.11 KB)

Source: MQL5 #750