Indicator Creator


Can the EA advisor create indicators ?

If I wanted in an indicator window to show vertical lines :

Green when Trend is positive and Red when Trend is Negative.

Positive Trend is when 8 ma is above 20 ma and Negative Trend is when 8 ma is below 20 ma.



No, not really.  VTS offers a plug-in to create an indicator from any VTS system.  It creates a simple indicator that plots a number between -1 (sell) to +1 (buy) based on the EA’s trade signal. (http://www.iexpertadvisor.com/ea-indicator-plug-in/

To create an indicator, after the plug-in is installed, at the top of VTS, select “EA Indicator” and click the Build button:


But that won’t help with your request.


I’ve held off on creating an Indicator Builder because I can’t find a way to make it easy to build a non-trivial MQL custom indicator using a builder.  MQL custom indicators are pretty complicated, they always requires loops, and they can be very diffcult to debug (when they do not redraw properly).  Until I can create a tool that I would use, I will not sell an Indicator builder.  Actually, when you create a new indicator using the MetaTrader editor MetaEditor, it takes you through a mini-wizard that is not that bad. That may be as easy as it can get.(Still, I love a challenge, so  I am always looking for a way to make building custom indicators easy, I’m just not hopeful).


However, you could build an EA to “almost” do what you described above.  The reason I say almost, is because the solution I am proposing would draw the vertical lines on the price chart, not in an “indicator window”.


Anyway, you could use the Chart Object plug-in to implement this pretty easily. (http://www.iexpertadvisor.com/mt4-chart-objects-plug-in/)


Here is the drawing (the configuration of each element is shown below):


 The 8-period Moving Average (From the Functions Toolbox, Indicators->iMA)


 The Logical condition:



The Green line (From the Functions Toolbox, ChartObjects->fnDrawVerticalLine):


The Red line (From the Functions Toolbox, ChartObjects->fnDrawVerticalLine):


 Finally, a section of the generated MQL code:



To be notified about the latest questions and answers, follow us on Twitter