Available Indicators and Default Values
PRICE - Price directly from series
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_1_v_2_0.zip.
The trading framework employed by the Expert Advisor Builder and Custom Expert Advisor maintains multiple data arrays for various data series. You can choose the PRICE indicators to evaluate one of these data series directly. This makes it simple to detect events, such as when the close price crosses an SMA line. This indicator doesn't utilize any input parameters; instead, it directly forwards the data from the selected series to the indicator output. Please note that some data series require a tick-based testing process to represent their values accurately.
The available series are:
- OPEN: Contains the open prices and updates once every bar.
- HIGH: This series contains the high prices, and updates may be made multiple times for every bar.
- LOW: This series contains the low prices, and updates may be made multiple times for every bar.
- CLOSE: Contains the close prices. The final value is set at the last tick of a bar.
- MEDIAN: This series contains the median prices, and updates are made multiple times for every bar. The values are calculated with the following formula: (High + Low ) / 2
- TYPICAL: This series contains the typical prices, and updates are made multiple times for every bar. The values are calculated with the following formula: ( High + Low + Close ) / 3
- WEIGHTED: This series contains the weighted prices, and updates are made multiple times for every bar. The values are calculated with the following formula: (H+L+C)/3
- VOLUME: This series contains the volume information and updates at each tick.
- TIME: This series contains the open time information and updates only at the beginning of a news bar.
- BODY: This series contains the candle bar body size.
- RANGE: This series contains the candle bar range.
- SHADOW TOP: This series contains the candle shadow at the top.
- SHADOW BOTTOM: This series contains the candle shadow at the bottom.
| Input | Usage | Default value |
|---|---|---|
| Selection | PRICE - Price directly from series | |
| Parameter 1 | - (not in use) | - |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
SMA - Simple Moving Average
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_2_v_2_0.zip.
The Simple Moving Average (SMA) is a technical indicator used in trading. It calculates the average of a selected range of prices, usually closing prices, by the number of periods in that range. The SMA is an arithmetic moving average calculated by adding recent prices and dividing that figure by the number of periods in the calculation average. For example, one could add the closing price of a security for several periods and then divide this total by that same number of periods. Short-term averages respond quickly to underlying security's price changes, while long-term averages are slower to react. The SMA can aid in determining if an asset price will continue or if it will reverse a bull or bear trend.
| Input | Usage | Default value |
|---|---|---|
| Selection | SMA - Simple Moving Average | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
EMA - Exponential Moving Average
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_3_v_2_0.zip.
The Exponential Moving Average (EMA) is a moving average with greater weight and significance on the most recent data points. It produces buy and sell signals based on crossovers and divergences from the historical average. Traders often use different EMA lengths, such as 10-day, 50-day, and 200-day moving averages. The EMA gives a higher weight to recent prices, while the SMA assigns equal weight to all values. It's best to use the EMA for trending markets, as it shows uptrends and downtrends when a market is strong and weak, respectively.
| Input | Usage | Default value |
|---|---|---|
| Selection | EMA - Exponential Moving Average | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
HMA - Hull Moving Average
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_4_v_2_0.zip.
The Hull Moving Average (HMA) is a directional trend indicator developed by Alan Hull. It's a combination of weighted moving averages (WMAs) that prioritizes recent price changes over older ones. The HMA is dynamic yet smooth, helping identify the dominating market trend. Some traders also use the indicator to time their entry and exit signals. The HMA captures the current market's dynamics as a directional trend indicator. It relies on recent price action to determine whether the market conditions are bullish or bearish relative to historical data.
| Input | Usage | Default value |
|---|---|---|
| Selection | HMA - Hull Moving Average | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
KAMA - Kaufman Adaptive Moving Average
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_5_v_2_0.zip.
The Kaufman Adaptive Moving Average (KAMA) is a technical indicator developed by Perry J. Kaufman. It's an adaptive moving average that adjusts its sensitivity based on market conditions. KAMA closely follows prices when price swings are relatively small, and the noise is low. However, when price swings widen, KAMA flexibly adjusts and maintains a greater distance from the prices. The KAMA calculation involves three essential components: Efficiency Ratio (ER), Smoothing Constant (SC), and the current price. The most significant advantage of KAMA is its ability to adapt to different market conditions. During trending markets, KAMA tracks the price closely, providing timely signals. KAMA responds less sensitively in choppy or sideways markets, reducing the risk of false signals. KAMA reduces noise and produces a smoother line compared to other moving averages.
| Input | Usage | Default value |
|---|---|---|
| Selection | KAMA - Kaufman Adaptive Moving Average | |
| Parameter 1 | Period | 10 |
| Parameter 2 | Fastest | 2.0 |
| Parameter 3 | Slowest | 30.0 |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
LWMA - Linear Weighted Moving Average
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_6_v_2_0.zip.
The Linear Weighted Moving Average (LWMA) is a moving average that assigns a higher weight to recent price data. The most recent price has the highest weighting, and each prior price has progressively less weight. The weights drop linearly. LWMAs are quicker to react to price changes than simple moving averages (SMA) and exponential moving averages (EMA). Traders use an LWMA to define the price trend and reversals more clearly, provide trade signals based on crossovers, and indicate potential support or resistance areas. Traders who want a moving average with less lag than an SMA may utilize an LWMA.
| Input | Usage | Default value |
|---|---|---|
| Selection | LWMA - Linear Weighted Moving Average | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
SMMA - Smoothed Moving Average
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_7_v_2_0.zip.
The Smoothed Moving Average (SMMA) is a moving average that assigns equal weight to recent and historical prices. Unlike the Simple Moving Average (SMA), which removes the oldest price data as a new price is added, the SMMA keeps all price data in its calculation. Although the oldest price data is not removed, it has less impact on the moving average. The SMMA uses a more extended period to determine the average and assigns weight to price data while calculating the average. This indicator is popular amongst many traders due to its smoothing-out function and ability. The SMMA can remove short-term fluctuations and unimportant movements associated with the current trend. Traders need to remember that the SMMA is a function of weight in connection with the price or length of the average.
| Input | Usage | Default value |
|---|---|---|
| Selection | SMMA - Smoothed Moving Average | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
BB - Bollinger Bands
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_8_v_2_0.zip.
Bollinger Bands are a technical analysis tool developed by John Bollinger. They consist of three lines: a simple moving average (middle band) and an upper and lower band typically set at two standard deviations from the moving average. The bands adjust to market volatility, widening during high volatility and contracting during low volatility. When prices touch the upper band, it may indicate an overbought market; when prices feel the lower band, it may indicate an oversold market. These bands identify potential buy and sell signals and possible trend reversals.
| Input | Usage | Default value |
|---|---|---|
| Selection | BB - Bollinger Bands | |
| Parameter 1 | Period | 12 |
| Parameter 2 | Bands Deviation | 2.0 |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Main 1 - Upper 2 - Lower | |
| Note | - | |
LREG - Linear Regression
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_9_v_2_0.zip.
Linear Regression is a technical analysis tool that statistically models price and time relationships. It plots the ending value of a Linear Regression Line for a specified number of bars, showing where the price is expected to be. This makes it more responsive than a moving average as it plots where a Linear Regression Line would expect the price to be instead of plotting an average of past price action. Traders can use it to identify key price points - entry, stop loss, and exit prices. It's a trend-identifying and trend-following indicator. This tool helps predict future prices based on historical data.
| Input | Usage | Default value |
|---|---|---|
| Selection | LREG - Linear Regression | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
DON - Donchian Channel
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_10_v_2_0.zip.
Donchian Channels are a technical analysis tool that measures a market's volatility and identifies potential breakouts or overbought/oversold conditions. Developed by Richard Donchian, they consist of three lines: an upper band marking the highest price over a certain period, a lower band marking the lowest price, and a middle band representing the average of the two. The bands create a visual price map over time, indicating the extent of bullishness and bearishness. They help traders establish whether the dominant trend direction in a market is bullish or bearish and serve as a guide for setting trade entries and exits. This tool is highly versatile and can define trading ranges and upcoming trend activity.
| Input | Usage | Default value |
|---|---|---|
| Selection | DON - Donchian Channel | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Upper 1 - Lower 2 - Middle | |
| Note | Every tick as model and CLOSE as series recommended. | |
PSS - Parabolic Sar Stop
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_11_v_2_0.zip.
The Parabolic SAR (Stop and Reverse) is a technical analysis tool developed by J. Wells Wilder. It helps traders determine trend direction and potential reversals in price. The indicator uses a trailing stop and reverse method, appearing on a chart as a series of dots either above or below an asset's price, depending on the price's direction. A dot below the price indicates an upward trend, and a dot above the price suggests a downward trend. When the dots flip, it signals a potential change in price direction. However, a reversal signal in the SAR does not necessarily mean a reversal in the price. Traders use it to spot trend reversals and to identify suitable exit and entry points.
| Input | Usage | Default value |
|---|---|---|
| Selection | PSS - Parabolic Sar Stop | |
| Parameter 1 | Step | 0.02 |
| Parameter 2 | Maximum | 0.2 |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | - | |
ENV - Envelopes
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_12_v_2_0.zip.
Envelopes are technical indicators plotted over a price chart with upper and lower bounds. They are typically generated by a simple moving average and a predetermined distance above and below the moving average. The most common example of an envelope is a moving average envelope. Envelopes help traders and investors identify extreme overbought and oversold conditions and trading ranges. The security is considered overbought when the price reaches the upper bound and a sell signal is generated. Conversely, when the price comes to the lower bound, the security is considered oversold, and a buy signal is generated. These strategies are based on mean reversion principles.
| Input | Usage | Default value |
|---|---|---|
| Selection | ENV - Envelopes | |
| Parameter 1 | Period | 13 |
| Parameter 2 | MA Method (0-SMA, 1-EMA, 2-LWMA) | 0 |
| Parameter 3 | Deviation | 0.2 |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Main 1 - Upper 2 - Lower | |
| Note | CLOSE as series recommended. | |
IKH - Ichimoku Kinko Hyo
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_13_v_2_0.zip.
The Ichimoku Kinko Hyo, or Ichimoku for short, is a technical indicator to gauge momentum, future support, and resistance areas. It consists of five lines: the Tenkan-Sen, Kijun-Sen, Senkou span A, Senkou span B, and Chikou span. These lines help identify key support and resistance levels signal reversals and can be used as trailing stop-loss points. The cloud or Kumo, formed by Senkou span A and B, predicts future support and resistance levels. The indicator is best used in conjunction with other forms of technical analysis. Despite its complex appearance, it provides valuable information once understood.
| Input | Usage | Default value |
|---|---|---|
| Selection | IKH - Ichimoku Kinko Hyo | |
| Parameter 1 | Tenkan-sen | 9 |
| Parameter 2 | Kijun-sen | 26 |
| Parameter 3 | Senkou Span B | 52 |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Tenkan Sen 1 - Kijun Sen 2 - Senkou Span A 3 - Senkou Span B 4 - Chikou Span | |
| Note | Every tick as model and CLOSE as series recommended. | |
PRO - Price Prominence
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_14_v_2_0.zip.
The prominence indicator provides the most recent local high or low whenever the price is in a short-term falling or rising trend, respectively. It quantifies the difference between a local low or high and the surrounding price, outputting the latest price that must be exceeded to reach an even lower or higher price. This indicator helps identify the most recent support or resistance levels. Notably, the detection changes depending on whether the current opening price is smaller or larger than the previous closing price.
| Input | Usage | Default value |
|---|---|---|
| Selection | PRO - Price Prominence | |
| Parameter 1 | Period | 14 |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Default | |
| Note | Every tick as model and CLOSE as series recommended. | |
PIV - Pivot Points
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_15_v_2_0.zip.
Pivot Points are a technical analysis indicator used to determine the market's overall trend over different timeframes. The pivot point is the average intraday high and low and the closing price from the previous trading day. Trading above the pivot point indicates ongoing bullish sentiment while trading below the pivot point indicates bearish sentiment. The indicator also includes other support and resistance levels projected based on the pivot point calculation. These levels help traders see where the price could experience support or resistance. If the price moves through these levels, it indicates the price is trending in that direction. Pivot points identify trends and reversals, mainly in equities, commodities, and forex markets.
| Input | Usage | Default value |
|---|---|---|
| Selection | PIV - Pivot Points | |
| Parameter 1 | - (not in use) | - |
| Parameter 2 | - (not in use) | - |
| Parameter 3 | - (not in use) | - |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Pivot Point = (H+L+C)/3 1 - Support 1 = 2 x P - H 2 - Support 2 = P - (H - L) 3 - Support 3 = L - 2 x (H - P) 4 - Resistance 1 = 2 x P - L 5 - Resistance 2 = P + (H - L) 6 - Resistance 3 = H + 2 x (P - L) | |
| Note | Every tick as model, CLOSE as series, and D1 as the timeframe recommended. | |
STR - Supertrend
To reproduce the chart from above, you can download and use the SET file package um_eab_ciav_16_v_2_0.zip.
The Supertrend Indicator is a technical analysis tool developed by Olivier Seban. It helps identify market trends and potential entry and exit points. The indicator combines the average true range (ATR) with a multiplier to calculate its value. This value is then added to or subtracted from the asset's closing price to plot the supertrend line. When the price is above this line, the market is considered to be trending up, signaling a buying opportunity.
Conversely, the market is trending downward when the price is below the line, indicating a sell opportunity. The Supertrend Indicator is notably helpful in markets when prices go in a clear direction, upward or downward. It is often used with other technical indicators for a more comprehensive trading strategy.
| Input | Usage | Default value |
|---|---|---|
| Selection | STR - Supertrend | |
| Parameter 1 | Multiplier | 2 |
| Parameter 2 | CCI Period | 50 |
| Parameter 3 | ATR Period | 5 |
| Parameter 4 | - (not in use) | - |
| Parameter 5 | - (not in use) | - |
| Parameter 6 | - (not in use) | - |
| Line Index | 0 - Supertrend 1 - Upper/Lower in use | |
| Note | - | |