Metatrader Indicator Generator
When creating your own trading strategy, any trader faces enormous difficulties in selecting such important elements as indicators.
To date, progress in the field technical analysis has stepped forward so much that the number of indicators is measured in hundreds, or even thousands.
Naturally, in such a huge selection it is quite easy to get lost, because in practice no one except the authors themselves knows for what purposes these tools were created, on what formula they are based and what is the initial data for their construction.
Of course, if you understand programming, you can easily determine what is behind this or that arrow on the chart, but if you do not have such knowledge, you need to be prepared for the fact that the arrow may disappear at any moment.
That is why it is often easier to create your own indicator for trading, and the special Metatrader indicator generator will help us with this.
The Metatrader indicator generator is a special program that allows you to generate technical indicators based on digital filtering using two different methods.
The generated indicators are very easy to interpret, since, as a rule, they give a signal for a breakout of the central line.
Installing the “Digital Method Generator” program
The indicator generator is a program independent from any trading terminal that allows you to generate and save indicators both directly into working trading platforms and to any other point on your computer.
In order to use the “Digital Method Generator” program, you need to download the installation file on the website page, and then launch it.
After launching the installation file, the program will prompt you to choose a language, namely Russian or English.
After selecting the language, you will see a user agreement with which you must agree and continue with the installation.
After you have agreed to the user agreement, a window will appear in front of you in which you should indicate the location where the “Digital Method Generator” will be installed.
The next step during installation is that the program will require you to indicate the system folders of your platforms. This is necessary for the indicator to be saved automatically in the terminal of your choice. If you followed the entire installation procedure correctly, you will receive this type of program:
Working with the Metatrader indicator generator. Creating the first indicator
In order to create your first indicator, you will first need to select a filter type. The program allows you to generate an indicator based on a low-pass filter (FATL/SATL, RFTL/RSTL, KGLP), a high-pass filter (KGHP), bandpass and notch.
It is worth noting that the FATL filter allows you to create an indicator based on the suppression of high-frequency noise and cycles with a short oscillation period, and SATL for a longer range.
If the first type of filter creates a more dynamic indicator, the second one covers more global price areas.
Once you have decided on the filter type, you will need to configure the passband, namely, set the cutoff period, attenuation and runout in the delay band, as well as the delay in bars.
Having limited the filters, the final step is to select the indicator creation method itself.
The program allows you to build an indicator using two methods, namely the first method was developed in 1995 by a certain Jake Janovetz, and the second using the libraries of the MtxVec digital filtering library.
Having selected the type of creation method, click on the “calculate parameters” button, after which the indicator will be generated and both the instrument code itself and its visual appearance will be shown in the lower additional window. Example:
In conclusion, it is worth noting that the Metatrader indicator generator is an excellent tool in the hands of a professional trader, since it allows you to create your own indicators without deep programming knowledge.
Download Metatrader indicator generator