MT5 Indicators Android


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    MT5 Indicators Android
    Both the MT4 and MT5 are always seen on the internet once traders search them and this only means that these two are widely used by a lot of people in which they are mostly interested in. There are many reasons to which these two platforms and the most commonly known one is because of the advantages associated with it when utilized. Aside from this, MT4 and MT5 are now being developed. These two can now be used in almost all available devices like Android, iPhone, and Mac as well. Speaking of the mobile platforms, there are in fact over thirty indicators that can be utilized on both the MT4 or MT5 Android and iPhone.

    Having a number of indicators that can be used on mobile devices may be a bit unusual for some because these are commonly used through a computer. Well, such technologies have really been well-developed to be suited in almost any devices. If you are new to this information regarding this kind of use, do not worry for this post will suffice the updates every trader needs.

    Trading Using the Indicators on MT4 and MT5 through Android or iPhone

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    Both the devices such as Android and iPhone for the MT4 and MT5 platforms offer a lot of features that can be of advantage to every trader who would like to try them out. Some features include the following:
    1. Using mobile devices allows the traders to control their trading accounts. They are also allowed to sync any of their accounts depending on their preference.
    2. With mobile devices being portable, trading can be done anywhere and anytime as long as traders can connect to the internet.
    3. All the order types are available.
    4. Trading history of traders can be checked all the time.
    5. Three various charts can be used in mobile devices like bars, Japanese candlesticks, and line charts.
    6. The range of time frames that can be used starts from one minute up to one month.
    7. There are thirty technical indicators available.
    8. News can also be checked.
    9. Traders may chat and send emails freely.
    List of Indicators Available on MT4 Android and iPhone

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    MT4 provides the traders a wide list of indicators that can be used through your Android or iPhone. Some examples are provided below:

    Accelerator Oscillator

    Bill Williams is the person behind the development of the Accelerator Oscillator which also became popular along with his other inventions. In his idea, he proposed that the direction of momentum will change before the price all the time. From this information he got, he observed at the momentum instead of just the price. In this way, timing advantage has been achieved. Now, this Accelerator Oscillator has been utilized to detect the early changes that happened in the momentum. Such changes can only be observed when the momentum is either accelerating or decelerating.

    From the observations made by William, he saw that before the trend in the price changes, the direction of the momentum will change first. Even before these things happen, the first thing that will occur is the acceleration change in momentum. Additionally, the Accelerator Oscillator is also referred to as the Acceleration/Deceleration indicator.

    Average True Range or ATR

    The Average True Range can also be called as ATR. It is an indicator that serves its purpose associated with technical analysis that was introduced by J. Welles Wilder Jr. who is a market technician. He had written a book entitled "New Concepts in Technical Trading Systems" where this indicator has been included. The Average True Range is utilized for measuring the volatility of the market through decomposing the entire range of an asset price for that period.

    Moreover, the Average True Range indicator is known to be the greatest of the following, namely: current high less the current low, the absolute value of the current high less the previous close, and the absolute value of the current low less the previous close. Additionally, the ATR is a moving average which generally uses 14 days of the true ranges.

    Awesome Oscillator Indicator or AO

    The Awesome Oscillator Indicator or AO is another technical analysis indicator. It was also developed by the American trader named Bill Williams. This is a tool for determining whether the bullish or bearish forces will dominate the market. It is also capable of measuring the market momentum and the aim for this is to detect the potential trend direction or trend reversals. The market momentum can be evaluated through combining the shorter time frame and the longer time frame simple moving averages or stated differently, considering the latest momentum when compared with a higher time frame momentum.

    Additionally, the Awesome Oscillator can be calculated through finding the difference between the latest 5 periods simple moving average and the 34 bars simple moving average. However, the indicator will be utilizing the bar middle point value instead of the closing price. Even if the formula of the Awesome Oscillator seems complex, it appears to be the opposite in the real world. The simpler formula is as follows:

    Midpoint value = (Bar high – Bar low) / 2

    Awesome Oscillator = SMA5 – SMA34

    Ichimoku Cloud or Ichimoku Kinko Hyo

    The Ichimoku Cloud is also referred to as the Ichimoku Kinko Hyo which is an indicator used mainly for determining the support and resistance, identifying the trend direction, gauging momentum, and providing trading signals. The term Ichimoku Kinko Hyo means "one look equilibrium chart." In a further explanation, this means that with just one look, traders will easily identify the trend and will be able to look for the potential signals within that trend. This indicator was introduced by a journalist named Goichi Hosoda who had written it in his book in 1969. Additionally, the Ichimoku Cloud may seem difficult to use at first glance on the price chart, but it is actually a straightforward indicator. The concepts associated with it can be understood easily and the signals are also defined well.

    Stochastic Oscillator

    The Stochastic Oscillator is one of the momentum indicators, but this one is utilized for the comparison between a particular closing price of a security and the range of its prices over a certain period of time. This oscillator is sensitive to the market movements; however, it can be minimized through the adjustment of the time period or by means of taking the moving average of the result. Additionally, this is utilized in generating both the overbought and oversold trading signals through 0 to 100 bounded range of values.

    List of Indicators Available on MT5 Android and iPhone

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    MT5 provides the traders a wide list of indicators that can be used through your Android or iPhone. Some examples are provided below:

    Alligator Indicator

    The Alligator Indicator is also referred to as Williams Alligator which is named after its developer named Bill Williams. This indicator is made up of three known lines which are given the term “Jaw,” “Teeth,” and “Lips.” The direction these three lines move, cross, and function as support or resistance can provide the traders the signals they need to base their decisions from.

    Market Facilitation Index or MFI

    Aside from the Alligator Williams, Bill Williams is also the person behind the existence of the Market Facilitation Index. This indicator makes use of the highs, lows, and volume to measure the price movement’s effectiveness for each bar. Additionally, the MFI provides the traders the necessary information to help them make their trading decision based on whether the trend is sufficiently strong to be traded or not which is in accordance to the four conditions, namely: Green, Fade, Fake, and Squat.

    Bears Power Oscillator

    In each passing day, the battle of bulls and bears is represented by trading. The term bulls refer to the occurrence wherein the buyers push the prices up. On the other hand, the term bears refer to the occurrence wherein the sellers push the prices down. The day will end with a price that is either higher or lower when compared to the previous day and this depends on what the party scores off. The intermediate results, first of all the highest and lowest price, will allow the traders to form a judgment of how the battle was developing during the day.

    Additionally, estimating the Bears Power balance is important. The reason is that the changes in this balance will signify the possible trend reversal. Through the use of the Bears Power oscillator, this task can be solved. This oscillator was introduced by Alexander Elder who described it in his book entitled "Trading for a Living." The oscillator was deduced through the following premises:
    • The moving average serves as a price agreement between the buyers and sellers for a particular period of time.
    • The maximum power of the seller within the day is displayed by the lowest price.

    On Balance Volume or OBV

    The On Balance Volume, as the name implies, uses the volume as its basis on making predictions relative to the future price movements. OBV is also known to be a cumulative result which means that it is the running total of the trading volume of a particular asset. Since it is the total volume, it accounts for the positive and negative changes that happen in the trading volume of an asset.

    The On Balance Volume is also said to be based on the prototype named “Continuous Volume.” The prototype was then developed by Joseph Granville based on his theory that the volume is the key driver of financial markets. This had then been the idea behind using volume in predicting the price movements which currently helps the traders in a lot of ways.

    Commodity Channel Index or CCI

    The Commodity Channel Index or CCI, in the simplest explanation, helps the traders in determining whether the asset that has been traded reaches either an oversold or overbought state. The term used for this indicator came from the idea that it was developed to increase the efficiency of trading within the commodities market. This concept existed because traders from the past have been facing timing challenges that are associated with entering the cyclical and seasonal markets. Since the CCI indicator has been developed as a solution to the mentioned problem, it has become the favorite of most traders up until today. In fact, most traders have been using it to determine both the entry exit points, whether to jump in a trade or avoid it, and other necessary things relative to trading.

    How to Add Indicators on Android and iPhone

    The process of adding the indicators on your mobile devices, be it Android or iPhone, is similar to the MetaTrader PC platform. The indicator can be simply placed directly on the chart or it can also be attached below it.

    Note: Do not forget to create your free account or connect your existing account to the mobile platform before trading.

    In connecting your existing account that you may have registered through your preferred broker, kindly follow these simple steps below:
    1. Access your MT4 or MT5 platform on your mobile device.
    2. Tap on the "Settings."
    3. Go to the "Manage Accounts."
    4. Look at the "+" symbol and click it. This is used to add your existing account to the mobile platform.
    5. Select on "Login to Existing Account."
    6. Search and choose your broker by tapping on it.
    7. Place the additional information needed to log in such as password.

    In adding the indicators to the mobile trading platform, you can do these simple steps:
    1. Access the MT4 or MT5 using your mobile device.
    2. Open the chart you prefer to the indicator to be applied.
    3. Select the "f" symbol.
    4. Selecting the "f" symbol will give you two options. The first one is to add an indicator to the main chart and the second one is to add the indicator to the indicator window.
    5. Choose that same symbol and select your preferred indicator from the options.
    6. Lastly, choose the parameters for the indicator you want to utilize.
    7. Hit done to apply the selected choices.
    How to Remove the Metatrader Mobile Indicators?

    Traders also have the option to delete or remove the indicators that are not necessary or wanted anymore. To do this, follow the provided steps below:
    1. Hit the "f" symbol to remove the indicator that is no longer needed.
    2. Select the "f" symbol for you to be able to check the indicators that you wanted to be removed.
    3. After selecting the indicators to be deleted, tap on the delete button again. After doing so, that indicator or indicators will be removed.
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    Last edited by ; 31-03-2021, 11:43 AM. Reason: Fixed some errors