NELODI MT5 Trading Terminal - MetaTrader 5 Library | Forex Indicator Download - MetaTrader 5 Resources

“NLD_Main” is a trend indicator designed to identify the most relevant trends and trend reversals within the currently selected time frame.

"NLD_CHART" is a custom price indicator that can be used as an alternative to candlesticks or bar charts, making price movements easier to visualize, especially when the chart is zoomed out (to see more data).

"NLD_Volume" is a custom volume indicator that calculates volume relative to the time remaining in the candle (rather than absolute volume).

"NLD_AXD" is a custom Average Directional Movement Index indicator that uses a yellow line to represent momentum (up = acceleration, down = deceleration) and a filled area in the average direction of movement (green = upward movement, red = downward movement).

NLD_Trade" and "NLD_Expert" together provide an easy-to-use trading terminal including:
* Symbol name (lower right corner)
* Account information (balance, equity, margin limit, available margin in account currency)
* Cost of opening a new position (spread + account currency commission)
* Swap fees (buyer and seller, in account currency)
* Server time and end time remaining for the current candle * Tick-Chart, mainly used for scalping, plots each Tick received by the symbol, showing the bid and ask price (thick white line), the bid/ask price after commission payment (thin gray line), the highest and lowest price (red/green filled) and... the most recent pivot point (thick yellow line)
*Buy and Sell buttons - used to place buy/sell orders for the symbol.
* Value of open positions on the floating profit and loss symbol (in account currency) divided into total buys (above the buy button), total sells (below the sell button) and one of the following options: "Total", "Only profit", "Only loss" or "Best position", depending on the "Buy/Sell Center" input parameter (default = best position).

If you change the "Allow hedging" input parameter on "NLD_Expert" to FALSE (default = TRUE), when you click on the "Buy" or "Sell" button and there is a position opened in the opposite direction (a sell opening when clicking buy, or a buy opening when clicking sell), it is better to execute the position from the opposite direction (the position with the highest profit and the lowest loss) instead of opening a new position in the direction of your trade. In other words, when you click "Buy" it closes a sell position, or... when you click "Sell" it closes a buy position. This avoids paying double spreads and trading commissions, closes your best performing positions at the current market price, and allows you to reduce your risk exposure and cut your losses or deposit some of your profits.

"NLD_Main", "NLD_Trade" and "NLD_Expert" have "FX Commission" and "Stock Commission" input parameters that you should update to reflect the commission charged by your broker. These values ​​are in your account currency and are set to "0.06" and "0.36" by default. For accounts where the broker's commission is in the spread, change these parameters to 0.

To configure a new MT5 chart to use "NELODI" as your trading terminal, add the "NELODI" indicator and Expert Advisor to your chart, in the following order:

1. NLD_Chart (custom price line) *optional
2. NLD_Main (main indicator)*recommended
3.NLD_Volume (volume index)*recommended
4. NLD_ADX (directional movement indicator)*recommended (can be used in conjunction with the volume indicator)
5.NLD_Trade (tick chart with trading information and buy/sell buttons) *required
6. NLD_Expert (required for transaction, "Allow automatic trading" must be checked) *Required

For best chart performance, reduce "Maximum number of bars in chart" to 15000, but do not go below this value as the main "NELODI" chart requires >10000 bars for correct calculation.

When trading, consider that all the price action you see now has already occurred in the past. Even if you have a very fast connection to your broker, there is always a delay between the time something happens in the market and the time you see it happen.

Additionally, when you click a button to open or close a position, it takes a while for your operation to be sent to the broker and executed. These delays accumulate and can result in a sizable difference between the price you see before clicking the button and the price you actually get (once your order is executed by the broker).

"NLD_Expert" was built to minimize the negative impact of delayed execution by using asynchronous calls and sending all orders in batches, however... there is a limit to the number of orders that can be placed in a single batch, so closing all open order positions with a single click may result in multiple batches being sent to the broker, during which the price may fluctuate significantly to your detriment. Your order has been executed. For best performance when closing positions, keep the number of open positions as small as possible.

Now that you know the basics, you can start using "NELODI" with your *DEMO* account.

Because "NELODI" opens and closes positions at the current market price and does not use "pending orders", "take profit" or "stop loss" to hold positions, the results you obtain using "NELODI" on a demo account (under normal market conditions) should be comparable to the results you obtain when trading on a demo account on a real account.

In other words, if your results when trading with "NELODI" on a demo account are consistent over an extended period of time, you should see comparable results when trading on a live account if market conditions remain the same.

On the other hand, if you are consistently making profits on your demo account, but are consistently losing money on your real account, then you should modify your account trading strategy because... you are either looking at the chart wrong, or your strategy relies too much on luck.

All indicators included in this package are not replottable, meaning the left side of the chart does not change as new data arrives. In other words, everything to the left of the white vertical dotted line on the main indicator (always drawn at the current time) and price, belongs to history and will not change with future price movements. This allows you to view chart history and understand how major indicators function. However, what really changes is the right side of the main chart (everything from the current price line to the next price line in the future), calculated based on the current opening price. Since prices usually move up or down, the right-hand portion of the main chart will be recalculated at the end of the candle, so it will look completely different if the price has moved a lot since the last candle.

Disclaimer: This software is provided by the copyright holders and contributors "as is" and any express or implied warranties, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose are disclaimed. In no event shall the copyright owner or contributors be liable for any direct, indirect, incidental, special, exemplary, or consequential damages (including, without limitation, procurement of substitute goods or services; loss of use, data, or profits; or business interruption) however caused and on any theory of liability, whether in contract, strict liability, or tort (including negligence or otherwise). Use of this software is prohibited in any way, even if advised of the possibility of such damages.

Use at your own risk!

Attachment download

📎 xauusdm1.png (139.39 KB)

📎 xauusdm15.png (122.01 KB)

📎 xauusddaily.png (123.77 KB)

📎 nld_include.mqh (126.75 KB)

📎 nld_chart.mq5 (10.37 KB)

📎 nld_main.mq5 (139.14 KB)

📎 nld_volume.mq5 (6.78 KB)

📎 nld_adx.mq5 (11.88 KB)

📎 nld_trade.mq5 (36.43 KB)

📎 nld_expert.mq5 (31.5 KB)

Source: MQL5 #26812