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

Real author: Witold Wozniak

The sine wave indicator was developed in 1996 by American analyst John Ehlers, who called it a "trend oscillator". It is based on the idea that economic processes are cyclical: indicators detect such cyclical violations.

Compared to the Adaptive Moving Average in trending markets, this indicator does exactly the opposite: in the case of an established trend, the two indicator lines (sine wave and sine wave) move parallel to each other and show the direction of the trend through their relative positions; if sideways occur, the sine wave indicator quickly reacts to market fluctuations. This is one of the few indicators that can be used in both trending and sideways markets and will show accurate results in either case.

The easiest way to automate trading using the Sine Wave Indicator is to create an automated trading system that can generate buy and sell signals when two lines cross. Therefore, when these lines cross with different periods in opposite directions, the position will be closed.

There are two versions of this indicator. Original code version - Sinewave.mq5. The Sinewave2.mq5 indicator offers chaotic oscillations of slightly filtered lead sine lines.

Place the period indicator compiled file into the terminal data folder \MQL5\Indicators\.

Attachment download

📎 cycleperiod.mq5 (18.96 KB)

📎 sinewave.mq5 (22.34 KB)

📎 sinewave2.mq5 (22.75 KB)

Source: MQL5 #577