The Gaussian Filter Metatrader 5 Forex indicator is designed to work for orders (poles) higher than the usual four poles that was present (mathematical maximum after which the precision of calculation is order (poles) 15.
But the coefficients that depicts those levels are extremely high, that the loss in precision does mean very little.
In line with this, it is a form of generalized Gaussian filter that can calculate arbitrary (order) pole Gaussian filter and which makes it a kind of a unique indicator.
The Gaussian Filter forex indicator is made up of two important input parameters i.e. the calculation period and the order.
The gaussian_filter Metatrader 5 custom indicator pops up on the activity chart like a moving average line, but in this case it alters its color to support the changing market trends.
Download the “gaussian_filter.ex5” MT5 indicator
The USD/CHF M30 chart below displays the gaussian filter forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the line of the gaussian_filter Metatrader 5 forex indicator turns lime green, while tracing an upward path.
Sell Signal: Go short when the line of the gaussian_filter Metatrader 5 forex indicator turns pale violet red, while tracing a downward path.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the line of the gaussian_filter MT5 forex indicator turns pale violet red.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the line of the gaussian_filter MT5 fx indicator turns lime green.
Tips: The gaussian_filter Metatrader 5 forex indicator acts in a similar manner to the moving average indicator.
Download the “gaussian_filter.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Calculation period, Order), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the gaussian_filter.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)