This reference explains what six built-in MT5 indicators calculate. Read it alongside the indicator-management guide; calculation settings, input data and chart timeframe matter when comparing readings. It does not recommend entries, exits or parameter choices.
MACD: two averages and a separate signal line
In the official closing-price example, MACD is the 12-period EMA minus the 26-period EMA. Its signal line is a 9-period SMA of MACD values, not a 9-period average of closing prices. EMA and SMA are different calculation methods.
MACD = EMA12 − EMA26; SIGNAL = SMA9(MACD)
Ichimoku: five lines and their plotting shifts
Let N1, N2 and N3 be the three configured calculation intervals. Mid(N) means the midpoint between the highest and lowest prices over interval N. The second interval also determines the plotting shift. These shifted positions do not provide known future prices.
Line | Calculation or plotted position |
Tenkan-sen | Mid(N1). |
Kijun-sen | Mid(N2). |
Senkou Span A | The mean of Tenkan-sen and Kijun-sen, plotted N2 bars forward. |
Senkou Span B | Mid(N3), plotted N2 bars forward. |
Chikou Span | The current closing price, plotted N2 bars backward. |
The shaded area between the two Senkou lines is the cloud. A forward plotting shift is different from forecasting a future price.
Williams’ Percent Range: the close within a range
For the chosen lookback interval, HH is the highest high, LL the lowest low and C the closing price. %R runs from 0 to−100: values near 0 place the close toward the top of that range; values near−100 place it toward the bottom. This does not establish that a reversal will occur. The formula is undefined if HH = LL because its denominator is zero.
%R = −100 × (HH − C) / (HH − LL)
Alligator: three smoothed averages
All three lines use the median price M = (H + L) / 2, where H and L are the bar’s high and low. The official example uses Jaw:13-period SMMA shifted 8 bars forward; Teeth:8-period SMMA shifted 5 bars; Lips:5-period SMMA shifted 3 bars. These are calculation/plotting settings, not recommended trade parameters.
M = (H + L) / 2
Awesome Oscillator: two median-price averages
AO subtracts the 34-period SMA of median prices from the 5-period SMA of the same input. A positive reading means the shorter average is above the longer one; it does not guarantee that the next price will rise.
AO = SMA5(M) − SMA34(M)
BW MFI: bar range divided by volume
BW MFI uses the bar’s price range divided by its volume V. It is the Market Facilitation Index, a different indicator from Money Flow Index. The formula alone does not identify a trader’s intentions or establish the next price direction. It cannot be evaluated with V = 0.
BW MFI = (H − L) / V
Illustrative arithmetic
If the fast EMA is 104 and the slow EMA is 100, MACD is 4. If the mean of the latest 9 MACD values is 3, its signal line is 3. MACD and its signal line are separate values.
If the 5-period median-price SMA is 102 and the 34-period SMA is 99, AO is 3. Separately, a bar with H = 110, L = 100 and V = 50 gives BW MFI = 0.2. These invented inputs are arithmetic examples, not trading sizes or suggested settings.
Compare readings on the same basis
Compare the complete symbol, timeframe, price input, calculation periods and shifts before comparing values from different charts.
Distinguish the indicator’s numerical value, a line’s plotted position and an interpretation of the reading. None alone guarantees an execution price or result.
For Moving Average methods and indicator controls, use the separate FXT guides below.
These indicators summarize their input data. Readings, crossings, colours and clouds do not guarantee a future price or trading outcome. This reference neither places an order nor confirms a broker-specific product, account feature or execution condition.