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Robots Glossary

Custom Indicator

Custom Indicator - A user-written technical indicator coded in MQL4/MQL5. Custom indicators analyze price (and possibly other data) and plot output on charts (lines, histograms, shapes). Unlike EAs, indicators do not trade; they only generate values or signals. In MT4 they are stored in MQL4\Indicators, in MT5 in MQL5\Indicators. Traders can attach custom indicators to charts or call them from EAs via functions like iCustom().
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