Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
A universal tool for determining trends, flats and trading on graphical patterns. Combines the techniques of Gan, Elliot, and Murray.
Just place it on the chart and it will show the direction and speed of the price movement, highlight the turning points.
Maltese cross will help you accurately determine the key points in the history, plan trading actions and accompany open transactions.
Basic principles
Maltese Cross displays the Trend, Flat and Impulse lines before and after the selected moment. The price moves between the lines, from one to the other. The dots mark the Reverse level
Flat - horizontal movement between the Flat lines.
Trend - movement along the Trend axis between the Flat and Impulse lines.
Impulse - the beginning of a price movement that goes beyond the Impulse boundary.
When the Reverse points appear, the price slows down and it reverses. The more Reverse points in the neighborhood, the greater the probability of a reversal.
To find the reference points, move the indicator along the chart. Pay special attention to the places where the trend changes - that is, the price comes and goes along the Impulse lines, while it is highlighted with Reverse points.
The points found will be fundamental in the analysis.
Using
Just put the Maltese Cross on the chart. Move around the graph using the mouse. To use two indicators on the same chart at the same time, set them different colors.
If you move the indicator to the right side of the chart, it will be "tied" to the last bar.
Testing and first launch
When running in the tester, the indicator immediately snaps to the right edge. If necessary, move it to another point in time.
Pay attention to the appearance of Reverse points - this is the most important signal of the indicator.
Parameters
COLOR - a unique color must be set at the first launch. There should not be two Maltese Crosses of the same initial color on the chart.
FLAT, TREND, IMPULSE, REVERSE-the levels at which the indicator lines are displayed. The default value is universal, but you can use other values as well.
ZOOM - for highly volatile instruments, an additional multiple magnification must be set. For example, for BTCUSD, ZOOM=24 is recommended
VARNAME - if you need to move two Maltese Cross synchronously on different charts, or move it in the Expert Advisor, set the name of the terminal variable
