Technical Indicators for MetaTrader 5

Unlock Me MT5

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Information

Indicators
MetaTrader 5
5
Farid Shyhaliev
20 October 2019
1.1
22 October 2019

Overview

I present to you the Unlock Me indicator. This indicator has task to shed light on hidden processes in candles.

"Unlock Me" helps to divide your broker ticks or contracts volume to 4 parts. 

  1. Accumulation volume (contracts without a pair, which will be distributed in the future). In standard settings this volume is highlighted in green.
  2. Distribution volume (contracts that are reunited with previously opened contracts) for example for each sale purchase and vice versa. This volume depletes stocks of previously accumulated positions! In standard settings it`s highlighted in blue.
  3. Closed positions volume. It shows resistance to the trading vector. For example: if candle is bullish and this volume is large, it means that sales were redeemed (therefore the candle became bullish), but then all resulting purchases were sold again (the bulls closed). In standard settings this volume is highlighted in red.
  4. New positions closing volume or the inheritance volume is an absolutely unique volume. It shows the number of contracts in accuracy (in scale) repeating processes in the previous candle. Highlighted in gold.

  •     For example in current candle we have 50 contracts are distributed and 100 contracts is the amount of inheritance. In previous candle 20 contracts are accumulated and 80 are closed. Then in this case there are 100 inheritance contracts and 20 from tham are accumulation contracts with 80 closure contracts.
  •     And another example. There are only 10 inheritance contracts in the current candle and in previous one everything just like in previous example: 20 accumulation contracts and 80 closure contracts. This means that in current candle we have 2 accumulation contracts and 8 closure contracts (scale 1:10).

Now about some rules of analysis.

1) Distribution and closing of positions are interconnected. For example: if distribution volume is equal (or approximately equal) to the closing volume, we are dealing with the following market picture:

    a. Bullish candle - sales were purchased (therefore a bullish candle) but then bulls closed their positions (sold contracts) however this solds where are-distributed among buyers again.

    b. Bearish candle - purchases were sold (therefore, a bearish candle) but then bears closed their positions (bought contracts) however this purchases where are-distributed among sellers again.

2) Accumulation and closing of positions are interconnected. For example closing volume is equal (or approximately equal) to the accumulation volume, we are dealing with the following market picture:

    a. Bullish candle -  volume of closed positions and in case of a bullish candle it’s bulls that put up their sales contracts and there is the accumulation volume that is. Bulls' sales are hanging in the air, they are waiting for desired (higher) price.

    b. Bearish candle - volume of closed positions and in the case of a bearish candle it`s sellers who put out their purchase contracts and there is accumulation volume that is. Sellers' purchases are hanging in the air, they are waiting for right (lower) price.

3) The accumulation volume clearly prevails over other volumes:

    a. Bullish candle - opening sales with target on lower prices.

    b. Bear candle - opening purchases in order to increase prices.

4) The distribution volume clearly prevails over other volumes:

    a. Bullish candle - bulls are distributed (purchases at a lower price sold out on growth). Accordingly - bulls accumulation is exhausted.

    b. Bearish candle - sellers are distributed (sales at a higher price were bought at a lower price). Accordingly - bears accumulation is exhausted.

5) Closing volume clearly prevails over other volumes:

    a. Bullish candle - pre-existing sales were redeemed, but then purchases were sold out (increase in bearish market potential).

    b. Bearish candle - pre-existing bulls were sold out, but sales were redeemed (increase in bullish market).

6) Volume of inheritance clearly prevails over other volumes. In this case all above analysis rules apply to this volume. The volume of inheritance directly proportionally repeats processes in the previous candle. Including the previous volume of inheritance!

There is only one setting:

D_LINE = false (  change   drawing style from Histogram to Line)

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