Setting up a Custom Single Line Signal indicator
The Single Line Signal option allows you to add an external indicator to your algorithm.
You can see examples of Single Line Signal indicators here: https://nnfxalgotester.com/help/single-line-signal/
How the Single Line Signal option works:
As you can see in the image below, the Line Cross With MA option can be used to include indicators as C1, C2, Volume, Exit or Continuation. Each function will use the same indicator differently, so:
- As Main Confirmation (C1) or Continuation Indicator: A BUY signal is generated when the element created by the indicator begins to rise and a SELL signal is generated when the element begins to descend.
- As 2nd Confirmation (C2): A BUY signal is accepted when the indicator element is rising. And a SELL signal is accepted when the indicator element is going down.
- As Volume Indicator: A BUY or SELL signal is accepted when the indicator element is rising (trade zone = volume in the market). The signal is blocked if the indicator element is going down (no-trade zone = market without volume).
- As Exit Indicator: An Exit SELL signal (ie. to close a short position) is generated when the indicator element begins to rise. And an Exit BUY signal (ie. to close a long position) is generated when the element begins to descend.
Single Line Signal configuration:
To include a Single Line Signal indicator, the indicator inputs, the indicator path and name, and the buffer representing the line created by the indicator must be indicated in the "Indicator Parameters" section.
The indicator should be placed in MT4's indicators folder (MQL4\Indicators).
Pro tip: To invert the operating mode, simply place a minus sign before the buffer. For example, change from "2" to "-2".