LF (Line Field) indicator
Indicator line field (SMA, BB, PC).
We count hundreds of identical indicators for different periods, superimpose them on each other, and get a beautiful picture.
Calculation
The step of the periods is nonlinear, calculated using a special formula, the adequacy of which is tested by time. This step for SMA and BB gives the image fractality; the same line beams will remain visible when switching between the nearest timeframes.
Otherwise, everything is usual here - the usual simple average, the usual channel of standard deviations (better known as BB), the usual price channel.
The idea of the indicator can be understood from the gif :
Display
Displaying such a picture is only possible using canvas technology in MetaTrader, so there are no indicator lines in the indicator, and it cannot be used in trading robots.
For each indicator, you can specify two different colors to distinguish clusters of large and small periods. To avoid confusion, it is better to use shades of the same color for one indicator and different shades for different indicators.
Management
If the indicator displays more than one indicator (for example, SMA + BB), then you can switch the visibility of individual indicators with the Q key.
To temporarily adjust the brightness, press Ctrl+Q.
Use
You can monitor the price location relative to the average and BB channels on different timeframes.
You can analyze line beams in the same way as if you were analyzing individual indicators of the same type.
Can be combined with analysis of other indicators.
But remember that such indicators almost they always only react to the price, and not vice versa.
Speed of work
The calculation speed is sensitive to the following factors :
- large maximum period (PERIODS/First and PERIODS/Last parameters)
- large graphics size (large monitor resolution)
- a small step between bars
Ideally, the indicator should be run with the maximum possible maximum period and the number of lines from 500. The default settings are chosen so that the calculation is fast even on slow computers, and at the same time a beautiful picture is obtained.
Data
If historical data is not loaded in sufficient volume, the indicator will restart several times, updating the picture while MT loads the data.
If historical data is not enough to calculate all periods, then the set of periods will be reduced accordingly.
Installation
Open the Zip file, Copy the whole "LF" folder into you
MQL5\Indicators
directory. Restart your terminal and refresh the indicator Navigator menu.