This indicator is based on Fatl indicator values and analysis of its signal lines. The algorithm for calculation of the signal lines is following. The period of each signal line is calculated by arithmetic progression formula:
SignalPeriod(Number) = StartLength + Number * Step
The value of the Number variable vary from 0 to StepsTotal. The values of Fatl indicators with different periods used for calculation of average values of Fatl indicator. The calculation of current trend direction is based on the averaged trend values for all signal lines.
Finally, the positive and negative values of the trends are averaged and used as indicator lines, shown as a color histogram, plotted using the DRAW_COLOR_HISTOGRAM2 drawing style. Historgram color depends on trend direction, the histogram width depends on strength of the trend.
For each trend direction 4 colors are used in the histogram. For indicator values outside the overbought and oversold levels the dark colors are used. For the overbought/oversold values the light colors are used.
MT5 Indicator – Download Instructions
UltraFatl is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
UltraFatl provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install UltraFatl.mq5?
- Download UltraFatl.mq5
- Copy UltraFatl.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on UltraFatl.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator UltraFatl.mq5 is available on your Chart
How to remove UltraFatl.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: