Cycle Identifier PRO is a custom indicator developed by the Forex Robot Easy Team. It is designed to enhance trading by analyzing market cycles. This indicator identifies the high and low points of cycles in the market and provides filtered price values for trend analysis.
periods(default: 20): The number of periods to consider when identifying cycles.filterPeriods(default: 5): The number of periods to use for filtering the cycle values.
The indicator initialization function OnInit() is responsible for setting up the indicator. It sets the indicator name and digit precision, as well as the style and buffer for drawing the trend lines. The SetIndexDrawBegin() function is used to set the starting point for drawing the lines.
The indicator calculation function OnCalculate() is called for each new tick to calculate the indicator values. It initializes the trend buffers if it is the first calculation. Then, it iterates through the available data points and identifies the highest and lowest values within the specified number of periods to determine the cycle high and low points.
The filtered price value is calculated as the average of the cycle high and low. Then, the function calculates the highest and lowest values within the specified number of filter periods to determine the filter high and low points.
Based on the comparison of the filtered price and the filtered value, the function determines whether the current point is in an uptrend or a downtrend. The trend values are assigned to the corresponding trend buffers.
Cycle Identifier PRO is a powerful custom indicator that provides valuable insights into market cycles. By accurately identifying the high and low points of cycles, traders can make more informed decisions and improve their trading strategies.
This indicator is designed to be used with the MetaTrader 5 platform and is compatible with various trading instruments and timeframes. It can be used for both manual trading and automated trading systems.
Some key features of Cycle Identifier PRO include:
- Accurate cycle identification: The indicator uses a robust algorithm to identify the high and low points of cycles in the market, providing traders with valuable information about the current market trend.
- Filtered price values: The indicator provides filtered price values based on the identified cycles, allowing traders to focus on the most relevant price levels for trend analysis.
- Customizable parameters: Traders can adjust the number of periods and filter periods according to their trading preferences and market conditions.
- Easy to use: The indicator is user-friendly and can be easily installed and applied to any chart in the MetaTrader 5 platform.
Please note that Forex Robot Easy is not the official developer of this product. We provide this sample code to demonstrate how the indicator works based on the product description. To find the official developer of Cycle Identifier PRO, please refer to the MQL5 website.
For detailed reviews and trading results of this product, please visit the following link: Cycle Identifier PRO Review