Step chart indicator, in its basic form, is made as a way to filter out insignificant price changes. Price changes are specified in pips and all the changes smaller than the desired are ignored. When drawing such values we are getting that characteristic step like chart and that is where the name of the indicator came from
This version :
Here we have added a choice of moving averages that can be used for additiona filtering too. That way we are having a sort of “double filtering”
Experiment a bit with the parameters, but it seems that with a mild average price filtering, step chart is becoming lest sensitive to some false signals
MT5 Indicators – Download Instructions
Step Chart of Averages MT5 Indicator is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
Step Chart of Averages MT5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install Step Chart of Averages MT5 Indicator.mq5 to your MetaTrader 5 Chart?
- Download Step Chart of Averages MT5 Indicator.mq5
- Copy Step Chart of Averages MT5 Indicator.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Step Chart of Averages MT5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Step Chart of Averages MT5 Indicator.mq4 is available on your Chart
How to remove Step Chart of Averages MT5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Step Chart of Averages MT5 Indicator (Free Download)
Click here below to download: