Applying One Indicator to Another – MetaTrader 5

admin — Thu, 11 Feb 2010 04:22:34 +0000

Let’s consider a task of improving an indicator, which is applied to values of another indicator. In this article we’ll continue to work with True Strength Index (TSI), which was created and considered in the previous article “MQL5: Create Your Own Indicator“.

Custom Indicator Based on Other Indicator’s Values

When writing an indicator that uses the short form of the OnCalculate() function call, you might miss the fact that an indicator can be calculated not only by price data, but also by data of some other indicator (no matter whether it is a built-in or custom one).

Let’s make a simple experiment: attach the built-in RSI indicator with standard settings to a chart, and drag the True_Strength_Index_ver2.mq5 custom indicator to the RSI indicator window. In the Parameters tab of the appeared window specify that the indicator should be applied to Previous Indicator’s Data (RSI(14)).

Continue to read the full article at http://www.mql5.com/en/articles/15

MetaTrader Australia » TSI

Applying One Indicator to Another – MetaTrader 5

Custom Indicator Based on Other Indicator’s Values