The first part of this article - <William Blau Of MQL5 Index and trading system . The first part ： indicators >, It is a description of technical indicators and swing indicators , See William Blau In the following book 《 momentum 、 Direction and departure 》.
The technical indexes and swing indexes described in this paper , All as MQL5 Source code rendering in language , And attached to the archive "Blau_Indicators_MQL5_en.zip" in .
William Blau Key analysis concepts proposed
William Blau The technical analysis of consists of four stages ：
- Using price series data （q column ） Calculate the indicators and draw them on the chart . The index does not reflect the overall trend of price changes , It is also not possible to determine the trend reversal point .
- Indicators will take advantage of EMA Method to smooth multiple times ： for the first time （ The period is r）、 The second time （ The period is s）, And the third time （ The period is u）; A smooth indicator is drawn . The smoothing index is quite accurate , Will reproduce the price fluctuation with the least delay . It allows to determine the trend and reversal point of price change , And will eliminate price noise .
- Standardize the smoothing index , Then draw the standardized smoothing index . Standardization allows index values to be interpreted as overbought or oversold in the market .
- utilize EMA Methods the standardized smoothing index was smoothed once （ cycle ul）; Construct a swing index - Add indicator post and signal line 、 Overbought and oversold levels in the market . Swing indicators allow us to distinguish between overbought markets / Oversold status 、 The reversal point and the end of the trend .