"Elegant MT5 Gold" Indicator Q&A (FAQ)

(1) Do you only have MT5?

For now, only MT5. The reason is that it easily displays unusual timeframes such as 3-minute, 10-minute, and 2-hour bars. If you trade with MT4, you can install this indicator on MT5 of some brokerage and trade side by side.

(2) I heard that just the indicator signals/arrows aren’t enough to win

Indeed, when I first started FX, I looked at many different indicators for several years and thought it was impossible.

I downloaded and studied about 2,000 demo versions, including EAs on overseas sites, but good results were almost non-existent.

However, that also depends on the level of the people who create the EAs and indicators.

Developers who don’t know winning logic or profitable logic won’t succeed no matter how much they try to create something.

Also, isn’t it a bit odd to say you trade only by intuition and can’t formalize it?

Even masters of fishing carefully develop their technique with a fairly clear intent over time; there are parts that cannot be described in words, but that doesn’t mean there are not special skills that can’t be generalized or reproduced for the next fishing trip. Math geniuses in Russia and Europe research ticks and eventually cluster/label (group similar data by features). This is how it becomes actionable in EAs and why they win.

(3) Which brokerage is recommended?

We do not recommend any in particular, but because some domestic Japanese gold trading brokers offer very tight spreads, it might be best to use such a broker for actual trading and display the indicator on MT5 from another broker for reference.

(4) Can I use it with brokers that have different definitions of 1 pip?

The first and second decimal places correspond to 1 pip for gold.

We have developed with MT5s from several domestic brokers, and if it doesn’t work correctly, we plan to fix it.

(5) Is there push notification?

Alerts, Push, and Mail can be set to true/false.

(6) What range does the calculation cover?

There are two types. One is the number of candlesticks, e.g., past 1000 bars. The other is you can choose from January 1, 2025 to the latest candlesticks.

(7) Can the GUI panel be moved?

Yes. By double-clicking on the GUI panel, something that can be grabbed will appear on the left; you can double-click again on the chart to fix it in place.

(8) Can it operate as an EA?

Technically possible if the user has the skills, and since it is buffer-type, that’s fine (recalculation may cause drift, and whether to fix the spread or how far back candlestick data flows). However, since it is sold as an indicator to aid discretionary judgment, support is excluded. It is designed to be quite accurate, but depending on where calculations start, how you use it on a VPS (some people restart the VPS on weekends), and differences in how candlesticks are constructed by brokers, a small discrepancy may occur. I hope you understand my intention here: own-responsibility professional-use.

⇒Click here for the product page MT5 Gold “Noble” Indicator