The ‘MA7 Viola’ indicator – Other – 3 April 2024


Description of work

The ‘MA7 Viola’ indicator is based on the standard Moving Average (MA) indicator. Shows a sharp increase or decrease in the moving average.

 

Features of work

The indicator works on the instrument and timeframe on which it is installed. The data is analyzed on closed candles, so the arrows are not redrawn.

Additional functions

Notifications when an arrow appears.

Indicator settings 

General settings

Difference

The parameter sets the difference in percentage between MA values; if the increase or decrease in MA is greater than this value, an arrow will be displayed on the chart. 

MA period

The parameter sets the period of the MA indicator. Measured in candles (bars). The parameter must be greater than 0.

MA method

The parameter sets the MA smoothing type. You can select the desired smoothing type from the list. 

Apply to

The parameter sets the price type that is used to calculate the MA indicator. You can select the desired price type from the list.

Remove subsequent arrows

The parameter removes subsequent arrows in the same direction. When this parameter is enabled, the arrows will appear on the chart in turn. For example, an up arrow appears, all subsequent up arrows will be ignored and not displayed on the chart until the down arrow appears.

Message settings

Send message to the terminal (Alert)

The parameter sets permission to send messages to the terminal using the Alert function.

Send message to the mobile terminal (Push)

The parameter sets permission to send messages to the mobile terminal using push notifications. Permission to send messages must be enabled in the terminal settings; read the instructions.

Send message to the email

The parameter sets permission to send messages by email. Permission to send messages must be enabled in the terminal settings; read the instructions.

Additional information

The parameter sets additional information about the indicator so that the user can distinguish which program sent the message. The information is displayed in the message header. For example, you installed two indicators on the same instrument and on the same timeframe with different parameters, one indicator has a period of 10, the other has a period of 30. To understand which indicator sent the message, you need the Additional information parameter, you can indicate additional information, for example, the period that the indicator uses, then in the message you will see which indicator sent the message.

Arrow display settings

Arrow shift

The parameter sets the vertical offset of the arrows on the chart.

Arrow size

The parameter sets the size of the arrows.

Up arrow color

The parameter sets the color of the up arrow.

Down arrow color

The parameter sets the color of the down arrow.

Up arrow code

The parameter sets the up arrow code.

Down arrow code

The parameter sets the down arrow code.

Examples of arrow codes.

Calculation formula

For up arrow: Difference > Diff(MA1 – MA2),

For down arrow: Difference > Diff(MA2 – MA1), where

 

Difference – difference between MA values (parameter in settings),

MA1 – MA indicator value with candle index 1 (last closed candle),

MA2 – MA indicator value with candle index 2 (penultimate closed candle),

Diff(val1 – val2) – function that returns the difference between values as a percentage.

Condition for displaying an up arrow

A difference between the last two MA values is greater than Difference, the moving average is increasing.

Condition for displaying a down arrow

A difference between the last two MA values is greater than Difference, the moving average is decreasing.

‘MA7 Viola’ indicators:

MA7 Viola MT4;

MA7 Viola MT5.

 

Expert Advisors based on the ‘MA7 Viola’ indicator:

MA7 Viola C1 MT4;

MA7 Viola C1 MT5.

 

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