🌟 "Simplicity Filters the Noise, Reveals the Trend."

Simple is Beautiful Indicator for MetaTrader 4

🔧 Overview

Simple is Beautiful is a custom indicator for MetaTrader 4 designed to filter out market noise and reveal the dominant price trend using low-pass filtering techniques. It works by applying one of three different smoothing methods to the price and highlighting uptrends or downtrends visually on the chart.

It’s a hybrid of digital signal processing and traditional trend analysis — providing clarity in volatile conditions.

⚙️ How It Works

The core mechanism relies on:

Pre-smoothing the selected price series (Close, Open, etc.) with a moving average.

Applying one of the following low-pass filter orders:

1st Order (EMA-like)

2nd Order Butterworth-like

3rd Order smoother with better lag reduction

Optionally applying a dynamic threshold filter using standard deviation to ignore minor fluctuations.

Identifying trend direction based on the filtered value changes:

Uptrend if the current filtered value previous

Downtrend if it’s lower

These trend directions are visually color-coded and optionally trigger alerts.

🧪 Parameters Explained

ParameterDescription

TimeFrameSets the time frame (MTF mode supported)

PricePrice type to filter: Close, Open, High, etc.

OrderFilter order: 1 = EMA, 2 = 2nd Order, 3 = 3rd Order

FilterPeriodThe main filter length (higher = smoother)

PreSmoothPre-smoothing MA period

PreSmoothModeMA type for pre-smoothing (0=SMA, 1=EMA...)

PctFilterEnables dynamic threshold filter (StdDev-based)

ColorModeEnables trend-color rendering (on chart)

ColorBarBackDraw offset for coloring (0 or 1 recommended)

AlertModeEnables alerts for new BUY/SELL signal

WarningModeEnables sound warning at trend switch

InterpolateSmooths lines in multi-timeframe mode

📊 Buffers Used

The indicator uses 10 internal buffers:

Filter[]: Final filtered price value

UpTrend[] / DnTrend[]: Optional trend lines (currently unused)

Smoother[]: Smoothed price

trend[]: Trend direction (1=up, -1=down)

Others for managing dynamic thresholding and drawing trend shifts

📈 Visualization

Yellow Line → Final filtered line

Light Blue Line → Uptrend points (optional)

Tomato Line → Downtrend points (optional)

(UpTrend and DnTrend are placeholders for visual extensions if desired.)

🔔 Alerts

The indicator provides optional audio alerts:

BUY Signal: when trend shifts from down (-1) to up (+1)

SELL Signal: when trend shifts from up to down

The alert messages are formatted like:

"EURUSD M15: Lowpassfilter Signal for BUY"

🛠️ Best Use Tips

Use higher FilterPeriod (20-50) for smoothing choppy markets

Order 3 provides better lag reduction and smoother results

Enable PctFilter for adaptive filtering in volatile conditions

Use in combination with price action or support/resistance for confirmation

Consider enabling alerts only during active trading hours to reduce noise

📣 Tagline Suggestion

"Simple is Beautiful – because clarity beats clutter."

👨‍💻 Developer and Source

Developer: R.KH

Year: 2025

Website: www.robomql.com