Custom indicator is a program independently developed in MetaQuotes Language 4 by the user and functioning as a technical indicator. Technical indicator is a mathematical transformation of security price and/or volume in order to forecast future price changes. The use of indicators allows to answer the question about whether the current trend will remain the same and where it will turn. Indicators are intended for relative simplifying of the complicated process of trading decision making. Algorithms of indicators are also used for development of trading tactics and expert advisors.
Attention: Custom indicators are intended only for analyzing of symbol price changes, but not for trading itself.
Working with custom indicators means: