Introduction to Indicator Strategies

In this article, you will learn more about creating and using Indicator Strategies through the Language Editor. This is one of our five articles about different types of strategies that can be created. Click here to access an introductory article.

Indicator Strategies

An indicator strategy uses the function “Plot(Dado: Float)” and its variants (Plot2, Plot3, Plot4). It is possible to add multiple indicators starting from the Plot functions.

If you are willing to use an indicator that adds the average between the maximum and the minimum of each candle on the chart, consider using an Indicator Strategy whose code makes this calculation and addition.

These rules’ execution happens in real-time according to the asset’s price update. Keep in mind that the market has to be opened.

Check below for an example of a strategy whose average has been plotted between a maximum and minimum of each candle on the chart:

var MediaMaximaMinima: Float;
 begin
  MediaMaximaMinima := (High+Low)/2;
  Plot(MediaMaximaMinima);
end;

Indicator Strategies can be added to your charts the same way as other indicators by right-clicking the chart, selecting “Insert Indicator” and the name of the strategy created.

To read about the other four types of strategies, access the links below:

- Coloring Strategies

- Trade Strategies

- Alert Strategies

- Selection Strategies

For further info about the functions mentioned above, read the following content by our partner Nelogica (available in Brazilian Portuguese). The document has a downloadable PDF file with the tool’s functions at the end of the text: Strategies Module.

We also recommend watching the introductory playlist about the module. To do so, click here (Available in Brazilian Portuguese).

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