Technical Indicators for MetaTrader 5

Magic Bar Combination Qualifier MT5

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Information

Indicators
MetaTrader 5
20
Onur Uzuncakmak
15 May 2018
1.4
23 March 2020

Overview

Magic Bar Combination Qualifier is better when you have sharp directional moves, because it requires only thirteen price bars from start to finish compared to Magic Bar Qualifier which needs at least 22 bars. The criterias for a Ninth Bar Signal are the same with those required for a Magic Bar Qualifier. The difference is that the count starts at bar 1 of the Ninth Bar Settings and not from bar nine and Magic Bar Combination Qualifier requires four conditions to be satisfied simultaneously.


Requirements for a Thirteenth Bar Buy Signal

  • Close lower or equal than the Low 2 trading days earlier.
  • The Low of the day should be less than the previous "trading day's" Low.
  • The Close of the day should be less than the previous "trading day's" Close.
  • The Close of the day should be less than the previous "Counting down day's" Close.
  • Bars Eleven, Twelve, Thirteen each one should just close successively lower and the other rules above are not applied.


Requirements for a Thirteenth Bar Sell Signal

  • Close higher or equal than the High 2 trading days earlier.
  • The High of a counting day should be greater than the previous "trading day's" High.
  • The Close of a counting day should be greater than the previous "trading day's" Close.
  • The Close of a counting day should be greater than the previous "counting day's" Close.
  • Bars Eleven, Twelve, Thirteen each one should just close successively higher and the other rules above are not applied.


Indicator Parameters

  • StartBar - Start Analysis This Many Bars Back
  • Ninth Bar Buy Object Shift – Arrange object shift of signal on chart
  • Thirteenth Bar Buy Object Shift - Arrange object shift of signal on chart
  • Ninth Bar Sell Object Shift - Arrange object shift of signal on chart
  • Thirteenth Bar Sell Object Shift - Arrange object shift of signal on chart
  • FontSize - Font Size
  • Show Ninth Bar Signal Settings - Show Settings
  • Minimum Number of Bars for Signal Complete - Minimum Number of Bars
  • Number of Bars to Look Back - Look Back Bars
  • Color for Ninth Bar Buy - Ninth Bar Buy Color
  • Color for Ninth Bar Sell - Ninth Bar Sell Color
  • Remove Cancelled Ninth Bar Numbers - Remove Cancelled Ninth Bar Numbers
  • Trend Line - Show Trend Line
  • Extend 2nd Most Recent Trend Line Level - Extend 2nd Most Recent Trend Line Level
  • Include Look Back Bars - Include Look Back Bars
  • Show Thirteenth Bar Signals – Show Thirteenth Bar Signals
  • Number of Bars for Thirteenth Bar Signals - Number of Bars Required
  • Number of Bars to Look Back - Number of Bars to Look Back
  • Color for Thirteenth Bar Buy - Thirteenth Bar Buy Color
  • Color for Thirteenth Bar Sell - Thirteenth Bar Sell Color
  • Remove Cancelled Thirteenth Bar Counts – Remove Cancelled Thirteenth Bar Counts
  • Visual Alert When Ninth Bar Completes - Alert Ninth Bar Completes
  • Sound for Ninth Bar Alert - Alert Ninth Bar Sound
  • Email When Ninth Bar Completes - Email Ninth Bar Completes
  • Text When Ninth Bar Completes - Notify Ninth Bar Completes
  • Visual Alert When Thirteenth Bar Completes - Alert Thirteenth Bar Completes
  • Sound for Thirteenth Bar Alert - Alert Thirteenth Bar Sound
  • Email When Thirteenth Bar Completes - Email when Thirteenth Bar Completes
  • Text When Thirteenth Bar Completes - Notify when Thirteenth Bar Completes
  • Visual Alert When Price Hits Trend Line - Visual Alert When Price Hits Trend Line
  • Sound for Trend Line Alert - Sound for Trend Line Alert
  • Email When Price Hits Trend Line - Email When Price Hits Trend Line
  • Text When Price Hits Trend Line – Text When Price Hits Trend Line

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