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Combining Weighted Indicators into a Higher-Timeframe Binary Wave Signal

Article MQL5 code base
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Summary

This indicator presents the trend direction or trade signal produced by BinaryWaveSign at a selected bar. A horizontal arrow marks continuation of the existing trend, while a diagonal arrow indicates a change and points in the trade direction. Colors distinguish upward and downward signals. The tool can also issue alerts and audio notifications.

The underlying wave combines up to seven weighted inputs: a moving average, MACD, OsMA, CCI, momentum, RSI, and ADX. Setting an input's weight to zero excludes it; timeframe, indicator settings, and wave smoothing can also be configured. Display and alert settings control the chart annotation and notifications. The document describes the indicator's behavior and configuration but provides no backtest, signal-quality evidence, or rules for entering and managing trades. It also depends on the separate BinaryWaveSign indicator, and the displayed signal alone does not establish profitability.

Key ideas

  • The indicator displays BinaryWaveSign direction or trade signals at a selected bar.
  • A right arrow represents trend continuation, while a diagonal arrow marks a directional change.
  • The wave combines weighted moving average, MACD, OsMA, CCI, momentum, RSI, and ADX inputs.
  • A zero weight removes an input from the calculation.
  • The description provides no evidence of trading performance or standalone entry and exit rules.

Tags

Technical indicatorsTrend followingMomentum

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.