‘MA7 Flax’ indicator – Other – March 28, 2024
Description of work
The ‘MA7 Flax’ notation is based on the standard Average True Range (ATR) notation. It displays large candles over a period of time.
Features of work
This indicator works depending on the device installed and for how long. The data is analyzed from closed candles, so the arrows are not redrawn.
Additional features
– Send a notification when an arrow appears.
Indicator settings
General settings:
– ATR period
This parameter configures the time period of the ATR indicator.
It is measured in candles (bars).
The parameter value must be greater than 0.
– ATR multiplier
This parameter multiplies the ATR value and is needed to search for large candles.
The parameter value must be greater than 1.
– Remove subsequent arrow
This option removes subsequent arrows in the same direction. When you enable this option, arrows will appear on the chart one at a time. For example, when an up arrow appears, all subsequent up arrows are ignored and do not appear on the chart until a down arrow appears.
Message Settings:
– Send message to terminal (Alert)
This parameter grants permission to send messages to the terminal using the Alert function.
– Send message to mobile terminal (Push)
This parameter grants permission to send messages to mobile devices using push notifications. The Send Messages permission must be enabled in terminal settings. read the manual.
– Send message by email
The parameter grants permission to send messages by email. The Send Messages permission must be enabled in terminal settings. read the manual.
– Additional information
The parameter specifies additional information about the indicator so that the user can distinguish which program sent the message. The information appears in the message header.
Example: You have installed two indicators on the same instrument, on the same time frame, with different parameters, one with a period of 10 and the other with a period of 30. To understand which indicator sent the message, you need: Additional information Parameters allow you to display additional information, such as how long an indicator is active, and allow you to determine in a message which indicator sent the message.
Arrow sign settings:
– Move arrows
This parameter configures the vertical offset of the arrow in the chart.
-Arrow size
The parameter configures the size of the arrow.
– Up arrow color
This parameter configures the color of the up arrow.
– Down arrow color
This parameter configures the color of the down arrow.
– up arrow code
The parameters make up the up arrow code.
– down arrow code
The parameters make up the down arrow code.
Example of arrow code.
formula
SizeHL > ATR × ATR multiplierwhere:
SizeHL – Candle size from high to low,
ATR – ATR indicator value of candle index 1 (last closed candle),
ATR Multiplier – ATR value multiplier.
Conditions for displaying an up arrow
The size of a candle going from high to low is greater than the ATR value multiplied by the coefficient.
Stubborn candle.
Remove follow-up arrows = yes
The last arrow on the chart should point down.
Down arrow display conditions
The size of a candle going from high to low is greater than the ATR value multiplied by the coefficient.
Bearish candle.
remove follow arrow = yes
The last arrow on the chart should point upward.
yes
A new candle has appeared and the indicator measures the last closed candle and compares it to the size of the measured candle by multiplying it by the ATR value. For example, when a bullish candle appears, the size of the candle is 100 points from High to Low, the ATR value is 40 points, ATR Multiplier = 2.0. Calculate this value using the formula 100 > 40 × 2.0(SizeHL > ATR × ATR multiplier), the size of the candle is greater than the ATR value multiplied by the coefficient and the candle is pointing upwards, so the indicator displays an upward arrow.
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Version for MetaTrader 4.
Version for MetaTrader 5.
Expert advice based on indicators:
‘MA7 Ixora C1’ for MetaTrader 4.
‘MA7 Ixora C1’ for MetaTrader 5.
