CUSTOMINDICATORBUILDERFOR

MetaTrader5
UserManual

Molanis
Wehelptraders!
www.molanis.com

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document.

MetaTraderisatrademarkofMetaQuoteswww.metaquotes.net

CustomIndicatorBuilderforMT5|UserManual

TableofContents

CustomIndicatorBuilderforMT5................................................................................................................4
OVERVIEW...................................................................................................................................................4
FEATURESANDBENEFITS.................................................................................................................................4
MINIMUMSYSTEMREQUIREMENTS...................................................................................................................5
INSTALLATION...............................................................................................................................................5
LICENSE........................................................................................................................................................5

GRAPHICALENVIRONMENT.............................................................................................................................5
IndicatorDiagramMenu.......................................................................................................................6
MetaTraderSetup.................................................................................................................................6
CUSTOMINDICATORDESIGN...........................................................................................................................6
MolanisIndicatorCalculationEditor....................................................................................................8
CreatingtheIndicatorCalculation......................................................................................................11
CalculationExamples..........................................................................................................................12
NewFeature!AdvancedFormula.....................................................................................................12
AdvancedFeature...............................................................................................................................14
TestEquations.....................................................................................................................................14
GenerateMQL5Code..........................................................................................................................14
IntegrationwithExpertAdvisorVisualWizard...................................................................................16
GLOSSARY..................................................................................................................................................18
LICENSEAGREEMENT...................................................................................................................................19

CustomIndicatorBuilderforMT5|UserManual

CustomIndicatorBuilderforMT5

OVERVIEW

Custom Indicator Builder has an easy to use, highly intuitive graphical environment with a
comprehensivesetofpredefinedblocksthatletyoudesignCustomIndicatorsforMetatrader5
in minutes. No coding, programming or MQL knowledge is required. Molanis MQL code
generatortransformsyourdesignintoreadytousecustomindicators.

Tocreateacustomindicator,youonlyneedtoaddindicatorblockstoan

indicatordiagram,andsettheirconfigurationparameters.

ATechnicalIndicatorisaresultofmathematicalcalculationsbasedonthepriceand/orvolume
ofacurrencypair.Mostusedtechnicalindicators(i.e.MovingAverageandMACD)haveafixed
mathematical calculation. Traders are allowed to change some input variables but not the
mathematicalcalculation.

ACustomIndicatorisaTechnicalIndicatorwherethemathematicalcalculationsaredefinedand
changed by the trader, bringing countless possibilities. Custom Indicator Builder contains an
Indicator Calculation Editor that empowers you to create custom indicators that use complex
mathematicalcalculations.

FEATURESANDBENEFITS
9 CreateCustomIndicatorswithoutwritinganycode.
9 Fastdevelopmenttime.Testyourtradingideasinminutes.
9 NoprogrammingskillsorMQLknowledgearerequired.
9 LeadingEdgeCodeGenerationcreatesallthecodeforMetaTrader.
9 Keep your trading and indicator ideas to yourself. No need to share your knowledge with
programmers.
9 GivesyouaccesstoMolanisOnlineCommunity,MolanisForumandfreecustomindicatorsfor
MT5.

Custom Indicator Builder for MT5 is a standalone product that

complements the Expert Advisor Visual Wizard. Create custom indicators
withCustomIndicatorBuilder(filestype*.moi5)andusethemwhencreating
expertadvisorswithEAVisualWizard(filestype*.mol5)
CustomIndicatorBuilderforMT5|UserManual

MINIMUMSYSTEMREQUIREMENTS
TosuccessfullyinstallanduseCustomIndicatorBuilderforMT5,youmusthave:

WindowsXP,Professional,Server2003or2008,Vista.
PentiumIVcompatible2GHzprocessor,1GBofRAM,20MBofdiskspace.
Java1.4orhigher(YoucandownloadJavaathttp://www.java.com)
MetaTraderTerminal(Youcandownloaditfromhttp://www.metaquotes.net/terminal)

INSTALLATION
Firstinstalljavafromhttp://java.com

Once you have verified that your PC meets the minimum system requirements run Molanis
installer.

Duringtheinstallationprocess,itisrecommendedthatyouread,understandandagreetothe
termsandconditionsunderwhichCustomIndicatorBuilderisreleased.

During the process you will be asked for your license information. Type your First Name, Last
Name and your License Key. The License Key is provided to you via email when you purchase
CustomIndicatorBuilder.PleasenotethatBetaVersionscomewithaBetalicensesothisstep
maynotbeincludedintheprocess.

LICENSE
CustomIndicatorBuilderisprovidedunderalicenseagreement.Acopyofthisagreementcan
befoundattheendofthisdocument.

Afreetrialdownloadthatrunsfor10daysisavailable.Thistrialhassomelimitations.Inorderto
getafullyfunctionalversion,youmustbuyCustomIndicatorBuilderandactivateyourlicense.

HowdoIinstallthelicensefile?

If you have been provided with a license file, you need to install it. Please see
http://molanis.com/support/faqforinstallationinstructions.

GRAPHICALENVIRONMENT
CustomIndicatorBuilderhasahighlyintuitive,easytousegraphicalenvironmentthatmakesit
agreattoolforanytypeofuser.

CustomIndicatorBuilderforMT5|UserManual

IndicatorDiagramMenu

ValidateDiagram

Checkstheconsistencyoftheindicatordiagram.Italertswhenchanges
onparametersareneeded.

Generate MQL5 code Creates the code of the custom indicator to be used with MetaTrader.
Dependingontheversionyoupurchased,OneorTwofilesarecreated:
MQ5(code)andEX5(compiledcode).

MiniDiagram
Showsaminimizedversionofthetradingdiagramatthebottomleft
cornerofthescreen.Acheckmark()nexttothefunctionindicates
thattheMiniDiagramisvisible.

Grid

Changesgridstyle:gridsize,gridcolor,andgridtype.

MetaTraderSetup

MetaTraderDirectory

Allows you to select the MetaTrader directory to create the custom

indicatorsunderMetaTraderdirectory\experts\indicators

CUSTOMINDICATORDESIGN
TocreateaCustomIndicatorforMT5withCustomIndicatorBuilder,followa4stepprocess:

1.START ClickontheSTARTblocktoselectthelocationoftheCustom
Indicator.Therearetwopossibleoptions:
Inthechartwindow
Inaseparatewindow

CustomIndicatorBuilderforMT5|UserManual

2.AddTI
blocks

DragTI(TechnicalIndicator)blocksfromtheIndicatorBlockLibrary
anddropthemintoanIndicatorDiagram.EachTIblockdefinesone
indicatorline.

3. Click on each TI block to define the indicator values (parameters) and calculation. Use
MolanisIndicatorCalculationEditortocreatethemathematicalcalculations(indicatorformula).

TIBlockoptions

OPTION
IndicatorColor

IndicatorStyle

IndicatorWidth

LineType

ArrowSymbol

Calculation

DESCRIPTION
Colorfordisplayingtheindicatorline

AVAILABLEVARIABLES
Black
Blue

Brown
Gray
Green
Orange
Red
White
Yellow
Styleoftheindicatorline
DRAW_LINE:DrawsaSimpleline.
DRAW_HISTOGRAM:Drawsahistogram.
DRAW_ARROW:Drawsanarrowsymbolto
beselectedundertheoptionArrowSymbol
Widthoftheindicatorline.
1
SizeofthearrowwhenDRAW_ARROWis 2
selectedasIndicatorStyle
3
4
5
LineTypewhenDRAW_LINEisselectedas STYLE_SOLID:Solidline.
IndicatorStyleandIndicatorWidth=1.
STYLE_DASH:Dashedline.

STYLE_DOT:Dottedline.
STYLE_DASHDOT:Linecreatedalternating
dashesanddots.
STYLE_DASHDOTDOT:Linecreated
alternatingdashesanddoubledots.
Setsthearrowsymbolwhen
SYMBOL_THUMBSUP:Thumbupsymbol(&).
DRAW_ARROWisselectedasIndicator
SYMBOL_THUMBSDOWN:Thumbdown
Style
symbol(').

SYMBOL_ARROWUP:Arrowupsymbol().
SYMBOL_ARROWDOWN:Arrowdown
symbol().
SYMBOL_STOPSIGN:Stopsignsymbol(8).
SYMBOL_CHECKSIGN:Checksignsymbol(9).
Showstheindicatorcalculation(formula)

CustomIndicatorBuilderforMT5|UserManual

OPTION
Advanced
Formula

DESCRIPTION
Tocreateanadvancedcalculationonthe
resultofthecalculationfield

AVAILABLEVARIABLES
None,Average,Highest,Lowest

Advanced
Period

UsedwithAdvancedFormulatoidentify
thenumberofbarstoincludeinthe
advancedcalculation

Anyinteger

4.ClickonGenerateMQLcodetocreatetheCustomIndicator.

MolanisIndicatorCalculationEditor
Unfortunately,technicalindicatorsusemathematicalcalculationsonpricessoyouneedtolearn
some math and syntaxes to create custom indicators. However, Custom Indicator Builder has
featuresthatsimplifythisprocess.

CustomIndicatorBuilderforMT5|UserManual

The most important part when creating a custom indicator is the Indicator Calculation (or
Indicator Formula). To make your life easier, Molanis developed a special editor to help you
writecomplexmathematicalcalculations.Youjustneedtofocusonacoupleofthings:

SomeBasicMathematics
Whatisthefunctionofparentheses()?
Parenthesessignifythatweshouldtreatwhattheyencloseasonenumber.
2+(3+5)=2+8=10.
2*(3+5)=2*8=16.

Whenthereareseveraloperations,whatistheorderofoperations?
Theorderofoperationsisasfollows:
Evaluatetheparentheses,ifthereareany,andiftheyrequireevaluation.
Multiplyordivide
Addorsubtract.
Tocalculate2+3*(4+5)6,first,wewillevaluatetheparentheses,replacing4+5with9:
2+3*(4+5)6=2+3*96.Nowwemultiply:2+276
Finally,addandsubtract:296=23.

BarIdentification

Acurrencygraphshowsthechangeinpricesoveraperiodoftime.Bars(orcandles)areusedin
currency graphs because they are able to represent visually four currency prices: Open, Close,
HighandLow.Mostofthetime,customindicatorsaretheproductofthecombinationofthese
pricesandmathematicalformulas.Sometimesthevolumeassociatedtothebarpricesisalso
used.

CurrentBarorPreviousBar?
Tobeabletomakecalculationsusingpreviousbarsinformation(pricesandvolume),anindexi
isused.Addingnumberstotheindexiallowsyoutoidentifythebarstobeusedintheindicator
calculation.

i:Itisareferenceforthecurrent,nottotallyformedbar.ishouldbeusedasareferencetoget
theinformationofcompleted/previousbars.

in,wherenisanypositivenumberisusedtoidentifythebarpaintednbarsago(orlocatedn
barsbeforethecurrentbar)

i1identifiesthepreviousbar(located1barbeforethecurrentbar)

i2identifiesthebarpaintedbeforei1,or2barsagofromthecurrentbar(located2barsbefore
thecurrentbar)
Thegraphshowshowtheindexisusedtoidentifybars.

CustomIndicatorBuilderforMT5|UserManual

Dontgetconfusedifyoureadsomewhereelsethatthepreviosbarisi+1
forMetaTrader4.CustomIndicatorBuilderhasastandardthatisinlinewith
MetaTrader5.

Theindexshouldbeusedwithanyofthefollowingoptions:Open,Close,High,Low,andVolume
matchingthesyntaxes:

Open: Open[i]: Open price for current bar (not completed its the current bar that changes
becauseitsstillnotformed)
Open[i1]:Openpriceforpreviousbarorbarlocatedonebarbeforethecurrentbar
Open[i2]:Openpriceforbarlocatedtwobarsbeforethecurrentbar
Open[i3]:Openpriceforbarlocatedthreebarsbeforethecurrentbar
Open[i4]:Openpriceforbarlocatedfourbarsbeforethecurrentbar

IntheIndicatorCalculationEditor,clickonClosetogettheClosePriceof

the current bar. Open[1] gives you the Open price for the previous bar
Open[i1].

Close:Close[i]:Closepriceforcurrentbar
Close[i1]:Closepriceforpreviousbarorbarlocatedonebarbeforethecurrentbar
Close[i2]:Closepriceforbarlocatedtwobarsbeforethecurrentbar
Close[i3]:Closepriceforbarlocatedthreebarsbeforethecurrentbar
Close[i4]:Closepriceforbarlocatedfourbarsbeforethecurrentbar

High:High[i]:Highpriceforcurrentbar
High[i1]:Highpriceforpreviousbarorbarlocatedonebarbeforethecurrentbar
High[i2]:Highpriceforbarlocatedtwobarsbeforethecurrentbar
High[i3]:Highpriceforbarlocatedthreebarsbeforethecurrentbar
High[i4]:Highpriceforbarlocatedfourbarsbeforethecurrentbar

TocreateHigh[i6]justclickontheHigh[4]buttontoobtainHigh[i4].Then

clicktwiceontheBackspacebuttontodelete4]andadd6].

Low:Low[i]:Lowpriceforcurrentbar
Low[i1]:Lowpriceforpreviousbarorbarlocatedonebarbeforethecurrentbar
CustomIndicatorBuilderforMT5|UserManual

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Low[i2]:Lowpriceforbarlocatedtwobarsbeforethecurrentbar
Low[i3]:Lowpriceforbarlocatedthreebarsbeforethecurrentbar
Low[i4]:Lowpriceforbarlocatedfourbarsbeforethecurrentbar

Volume and Tick Volume: MetaTrader 5 has two different volumes. As per MT, Tick volume
contains the number of ticks that came for a bar. Real volume contains volume of trade
operationsmadeonthisbar(i.e.forstockexchange).

Volume:Volume[i]:Volumepriceforcurrentbar
Volume[i1]:Volumepriceforpreviousbarorbarlocatedonebarbeforethecurrentbar
Volume[i2]:Volumepriceforbarlocatedtwobarsbeforethecurrentbar
Volume[i3]:Volumepriceforbarlocatedthreebarsbeforethecurrentbar
Volume[i4]:Volumepriceforbarlocatedfourbarsbeforethecurrentbar

RememberthatinisusedtoidentifybarssoLow[i9]getstheLowpriceof

the bar located nine bars before the current bar. Syntaxes like Low[i+9],
Low[i1+2],Low[i1.5],Low[4]arenotallowed.

CreatingtheIndicatorCalculation
On a TI block, use the available buttons to write your calculation. While you create your
calculation, Molanis Smart Calculation Algorithm helps you identifying the most common
syntaxeserrors.

Weadviseyoutowritethecalculationonpaperinadvancetoidentifyifparenthesisshouldbe
usedtogroupoperations.
CustomIndicatorBuilderforMT5|UserManual

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CalculationExamples

ShowstheHighpriceofeverybar
High[i]

ShowstheOpenpriceofeverybar
Open[i]

ShowstheaverageofHighandLowpriceofeverybar
(High[i]+Low[i])/2

ShowstheaverageofOpenforcurrentbarandCloseforpreviousbar
(Open[i]+Close[i1])/2

ShowstheaverageoftheClosepriceofthelastthreebars(includingcurrentbaridentifiedwith
i).Movingaverageindicatorwithperiod=3.
(Close[i]+Close[i1]+Close[i2])/3

Tip: Its easier to create moving averages using the Advanced Formula

feature.

MomentumIndicatorwithperiod=5
(100*Close[i])/Close[i5]

VolumeRateofChangewithperiod=1
100*(Volume[i]Volume[i1])/Volume[i1]

All the custom indicators samples are available for download in our Forum
(www.molanis.com/forum).AlsochecktheexamplespageatMolanis.com

NewFeature!AdvancedFormula

Theadvancedformulamakesaspecialcalculationontheindicatorcalculation(calculationfield).
Fouroptionsareavailable:

Highest:Getthehighestnumber
Lowest:Getthelowestnumber
Average:Gettheaveragenumber
None:Noadvancedcalculationtakesplace

TheseoptionsshouldbeusedwithaspecificperioddefinedintheAdvancedPeriodfield.

Examples

CustomIndicatorBuilderforMT5|UserManual

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Movingaverageofopenpricewithaperiodof18:CreateacalculationequaltoOpen[i],select
AverageastheAdvancedFormulaandselect18astheAdvancedPeriod.

Getthehighesthighfromthelastfourbars:CreateacalculationequaltoHigh[i],selectHighest
astheAdvancedFormulaandselect4astheAdvancedPeriod.

Getthelowestlowfromthelastfivebars:CreateacalculationequaltoLow[i],selectLowestas
theAdvancedFormulaandselect5astheAdvancedPeriod.

Get the highest of the difference between high and low prices with a period of 10: Create a
calculationequaltoHigh[i]Low[i],selectHighestastheAdvancedFormulaandselect10asthe
AdvancedPeriod.

Thingstoavoid

Whencreatingmultipleindicatorlinesinonecustomindicator,keepinmind:

Allindicatorlinesareshowneitherinthechartorinaseparatedchart.MetaTraderdoesnot
allowonecustomindicatorstoshowoneindicatorlineinthechartandanotherindicatorlinein
a separated graph. If you need the two indicator lines, you need to create two custom
indicators.

CustomIndicatorBuilderforMT5|UserManual

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Always take into account the graph scale. MetaTrader paints the currency graph first using a
scalethatcentersthegraph,andthenitpaintstheindicatorlines.Alwaysmakesurethatyou
calculation returns values that are in the scale of the currency graph. i.e. For in the chart
windows indicators, if your currency range is 1.3201 to 1.5699 and you indicator line has a
rangeof100to100,theindicatorlinewontbepaintedbecauseitisbeyondthescaleofthe
graph.Forinaseparatewindowindicatorsifyouhavecaseswhereoneindicatorlineshows
values between 0.8 and 1.7, and a second indicator line shows values between 100 and 100,
MetaTraderwillpaintboth.However,duetoscale,thefirstonewillbeshownasazeroline.

Constraints

ThecurrentversionofCustomIndicatorBuilderforMT5onlyhandlesindicatorsthatarebased
onpricesandvolume.

AdvancedFeature

Ifyouareacoderandneedmoreflexibility,clickontheADVANCEDbuttontogaincontrolofthe
calculationeditor.ThisfeatureallowsyoutousethekeyboardandMT5commandssoyoucan
writeyourownindicatorcalculation.Justareminder,thecalculationiscomputedforabarusing
iforbaridentification.ThisfeatureisonlyrecommendedforMQLcoders.

TestEquations

Tomakesureyourcalculationiscorrect;theTESTEQUATIONbuttonwasintroducedinversion
3.15.Justclickitandthecustomindicatorcalculationwillbeevaluated.

GenerateMQL5Code

Togeneratetheindicator'scodetobeusedinMetaTrader5.GototheIndicatorDiagrammenu
andclickonGenerateMQL5Code

Note that commercial versions of this product show the MQL5 code. Demo versions do not
showthecodeandonlygiveyouaccesstothecompiledindicator(.ex5file).

CustomIndicatorBuilderforMT5|UserManual

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AfteryouclickonCreateCustomIndicatorforMetaTrader5,theindicatorwasgeneratedandis
readytobeusedinMT5.

IfyouopentheMetaTrader5terminalyouwillseetheindicatorintheNavigatorwindow

Ifyouattachtheindicatortoachartyouwillseetheindicatordescriptionandsignals.

CustomIndicatorBuilderforMT5|UserManual

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IntegrationwithExpertAdvisorVisualWizard

Expert Advisor Visual Wizard is probably the most advanced graphic environment available
today to create expert advisors for MT5. With just a few clicks, you can create complex forex
trading strategies and transform them into fully functional expert advisors. No coding,
programming or MQL knowledge is required. Whether you are new to forex, a professional
traderoraMQLprogrammer,youcanuseEAVisualWizardtorapidlydeveloppowerfulexpert
advisors.

Making life easier, the custom indicator builder generates code that includes the modes you
needtousewhenintegratingyourcustomindicatorwithEAVisualWizard.

Custom indicators must be located in the indicators directory (C:\Program Files\Metatrader

5\experts\indicators for standard installations of MT5), Also the indicator file must be a
compiledindicator(a.ex5file)

InMT5Indicators,Whatismodeandshift?

Mode is used to identify one of the available indicator lines orindicator signals. If you have 8
linesinyourgraph,eachonegivesyouanoutput.Withmodeyouselectthelineyouneed.Most

CustomIndicatorBuilderforMT5|UserManual

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ofthetimeindicatorshaveonelineso0shouldbeused.(i.e.Ifyouhavethreeindicatorlines
andyouwanttousethesecondlineoutput,1shouldbeused.)

Shift:Shiftrelativetothecurrentbarthegivenamountofperiodsago.Ifyouwantthevalueof
theindicatorbutforthepreviousbaryouuseashiftof1.Toobtainthevalueforthecurrent
bar,0shouldbeused.Thisfeatureisusedwhencomparingthevalueforthecurrentbarwith
thevalueofthepreviousbar.Thisconceptappliestoanyindicatorandit'susedtogetdirection
ofthetrend.(i.e.MAnow>MAonebar(shift=1)agomeanstrendup)

CustomIndicatorBuilderforMT5|UserManual

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GLOSSARY
EA Expert Advisor short program written in MQL that implements a forex strategy. EAs are
automatedprogramsthatinvestforyou.
MQL MetaQuotes Language is the language used to write expert advisors (EA, or forex
strategies)andtechnicalindicatorsforMetaTrader.
INDICATORBLOCKSmaincomponentsofaindicatordiagram.

CustomIndicatorBuilderforMT5|UserManual

18

LICENSEAGREEMENT

WARNING:Thisprogramisprotectedbycopyrightlawandinternationaltreaties.
MOLANISSOFTWARELICENSEAGREEMENT
ENDUSERLICENSEAGREEMENTFORMOLANISSOFTWARECustomIndicatorBuilderforMT5
NOTICE TO USER: PLEASE READ THIS CONTRACT CAREFULLY. BY USING ANY PORTION OF THE
MOLANIS STARTEGY BUILDER SOFTWARE ("SOFTWARE") YOU ACCEPT ALL THE TERMS AND
CONDITIONSOFTHISAGREEMENT.ALSOYOUAGREETHATTHISAGREEMENTISENFORCEABLE
LIKE ANY WRITTEN NEGOTIATED AGREEMENT SIGNED BY YOU. THIS AGREEMENT IS
ENFORCEABLEAGAINSTYOUANDANYLEGALENTITYTHATOBTAINEDTHESOFTWAREANDON
WHOSEBEHALFITISUSED.IFYOUDONOTAGREE,DONOTUSETHISSOFTWARE.
MolanisownsallintellectualpropertyintheSoftware.MolanispermitsyoutoUsetheSoftware
onlyinaccordancewiththetermsofthisAgreement.

1.Definitions."Software"means(a)allofthecontentsofthefiles(providedeitherbyelectronic
download,onphysicalmediaoranyothermethodofdistribution),disk(s),CDROM(s)orother
mediawithwhichthisAgreementisprovided,includingbutnotlimitedto(i)CustomIndicator
Builder for MT5 software (ii) related explanatory written materials or files ("Documentation");
and (iii) upgrades, modified versions, updates, additions, and copies of the Software, if any,
licensed to you by Molanis (collectively, "Updates"). "Use" or "Using" means to access, install,
download,copy,orotherwisebenefitfromusingthefunctionalityoftheSoftwareinaccordance
withtheDocumentation."PermittedNumber"meansone(1)unlessotherwiseindicatedunder
avalidlicense(e.g.,volumelicense)grantedbyMolanis."Computer"meansanelectronicdevice
thatacceptsinformationindigitalorsimilarformandmanipulatesitforaspecificresultbased
on a sequence of instructions. "Term" means duration granted to you for the use of the
software."Molanis"meansMolanis,Canadiancorporation,locatedonTorontoM4P0A5.

2.SoftwareLicense.IfyouobtainedtheSoftwarefromMolanis,andsubjecttoyourcompliance
with the terms of this agreement (this "Agreement"), Molanis grants to you a nonexclusive,
limited,personallicensetoUsetheSoftwareduringtheTermtousetheSoftwareandforthe
purposesdescribedintheDocumentationasfollows.

CustomIndicatorBuilderforMT5|UserManual

19

2.1GeneralUse.YoumayinstallandUseacopyoftheSoftwareonyourcompatibleComputer,
uptothePermittedNumberofcomputers.TheSoftwaremaynotbeshared,installedorused
concurrentlyondifferentcomputers.

2.2 No Modification. You may not modify, adapt, translate or create derivative works based
upon the Software. You may not reverse engineer, decompile, disassemble or otherwise
attempttodiscoverthesourcecodeoftheSoftware.

2.3 YOUR USE OF THE SOFTWARE IS AT YOUR OWN RISK. MOLANIS MAKES NO WARRANTIES,
CONDITIONS,INDEMNITIES,REPRESENTATIONSORTERMS,EXPRESSORIMPLIED,WHETHERBY
STATUTE, COMMON LAW, CUSTOM, USAGE OR OTHERWISE AS TO ANY OTHER MATTERS,
INCLUDING BUT NOT LIMITED TO NONINFRINGEMENT OF THIRD PARTY RIGHTS, TITLE,
INTEGRATION,ACCURACY,SECURITY,AVAILABILITY,SATISFACTORYQUALITY,MERCHANTABILITY
ORFITNESSFORANYPARTICULARPURPOSE.Becausesoftwareisinherentlycomplexandmay
notbecompletelyfreeoferrors,youareadvisedtoverifyyourwork.InnoeventwillMolanis
beliablefordirect,indirect,special,incidental,orconsequentialdamagesarisingoutoftheuse
oforinabilitytousethesoftware,hardware,ordocumentation,evenifadvisedofthepossibility
of such damages. In particular, Molanis is not responsible for any costs, including, but not
limited to, those incurred as a result of the use of the software, loss of data, the costs of
recoveringsuchsoftwareordata,thecostofsubstitutesoftware,claimsbythirdparties,orfor
othersimilarcosts.

2.4 Indemnity. You agree to hold Molanis harmless from any and all liabilities, losses, actions,
damages,orclaims(includingallreasonableexpenses,costs,andattorneysfees)arisingoutof
orrelatingtoanyuseof,orrelianceon,theSoftware.Becausesoftwareisinherentlycomplex
andmaynotbecompletelyfreeoferrors,youareadvisedtoverifyyourwork.Innoeventwill
Molanisbeliablefordirect,indirect,special,incidental,orconsequentialdamagesarisingoutof
theuseoforinabilitytousethesoftware,hardware,ordocumentation,evenifadvisedofthe
possibilityofsuchdamages.Inparticular,Molanisisnotresponsibleforanycosts,including,but
not limited to, those incurred as a result of the use of the software, loss of data, the costs of
recoveringsuchsoftwareordata,thecostofsubstitutesoftware,claimsbythirdparties,orfor
othersimilarcosts.

2.5 Limit of Liability. UNDER NO CIRCUMSTANCES WILL MOLANIS BE LIABLE TO YOU, OR ANY
OTHER PERSON OR ENTITY, FOR ANY LOSS OF USE, REVENUE OR PROFIT, LOST OR DAMAGED
DATA, OR OTHER COMMERCIAL OR ECONOMIC LOSS OR FOR ANY DIRECT, INDIRECT,

CustomIndicatorBuilderforMT5|UserManual

20

INCIDENTAL, SPECIAL, STATUTORY, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES

WHATSOEVER RELATED TO YOUR USE OF THE SOFTWARE. IN NO EVENT WILL MOLANIS BE
LIABLETOYOUFORANYDAMAGES,CLAIMSORCOSTSWHATSOEVERORANYCONSEQUENTIAL,
INDIRECT,INCIDENTALDAMAGES,ORANYLOSTPROFITSORLOSTSAVINGS,EVENIFAMOLANIS
REPRESENTATIVEHASBEENADVISEDOFTHEPOSSIBILITYOFSUCHLOSS,DAMAGES,CLAIMSOR
COSTS OR FOR ANY CLAIM BY ANY THIRD PARTY. In no case shall Molanis' liability exceed the
amountofthelicensefee.

2.6TermandTermination.ThetermgrantedtoyoufortheuseoftheSOFTWAREisfor1year.
ThetermofthisAgreement(the"Term")willcommenceonthedateyoubuytheSoftware,and
willcontinueuntilterminatedbyeitherparty.YoumayterminatethisAgreementatanytimeby
deinstallingtheSoftwareanddestroyingallcopiesoftheSoftwareinyourpossessionorcontrol.
MolanismayterminatethisAgreementatanytime foranyreasonornoreason.Molanis may
terminate this agreement before the term is completed if you fail to comply with any of the
terms and conditions of this agreement. In such event, you must destroy all copies of the
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throughadialogboxdisplayedbytheSoftwarewhenthetermhasexpired,butnosuchnotice
will be required in order for Molanis' termination to be effective. On the expiration or
terminationofthisAgreement,youwillceaseusingtheSoftware,andtheSoftwaremaycease
functioning.

3.Transfer.Youmaynotrent,lease,sublicense,assignortransferyourrightsintheSoftware,or
authorizealloranyportionoftheSoftwaretobecopiedontoanotheruser'sComputerexcept
as may be expressly permitted herein. You may, however, transfer all your rights to Use the
Softwaretoanotherpersonorlegalentityprovidedthat:(a)youalsotransfer(i)thisAgreement,
and (ii) the Software and all other software or hardware bundled or preinstalled with the
Software, including all copies, Updates and prior versions, to such person or entity, (b) you
retainnocopies,includingbackupsandcopiesstoredonaComputer,and(c)thereceivingparty
acceptsthetermsandconditionsofthisAgreementandanyothertermsandconditionsupon
whichyoulegallypurchasedalicensetotheSoftware.Notwithstandingtheforegoing,youmay
nottransfereducation,prerelease,ornotforresalecopiesoftheSoftware.

4. Intellectual Property Ownership, Copyright Protection. The Software and any authorized
copiesthatyoumakearetheintellectualpropertyofandareownedbyMolanis.Thestructure,
organization and code of the Software are the valuable trade secrets and confidential
information of Molanis. The Software is protected by law, including without limitation the
copyrightlawsofCanadaandothercountries,andbyinternationaltreatyprovisions.Exceptas

CustomIndicatorBuilderforMT5|UserManual

21

expressly stated herein, this Agreement does not grant you any intellectual property rights in
theSoftwareandallrightsnotexpresslygrantedarereservedbyMolanis.

5.Updates.IftheSoftwareisanUpdatetoapreviousversionoftheSoftware,youmustpossess
avalidlicensetosuchpreviousversioninordertoUsesuchUpdate.AllUpdatesareprovidedto
youonalicenseexchangebasis.YouagreethatbyUsinganUpdateyouvoluntarilyterminate
your right to use any previous version of the Software. As an exception, you may continue to
UsepreviousversionsoftheSoftwareonyourComputerafteryouUsetheUpdatebutonlyto
assist you in the transition to the Update, provided that: (a) the Update and the previous
versionsareinstalledonthesamecomputer;(b)thepreviousversionsorcopiesthereofarenot
transferredtoanotherpartyorComputerunlessallcopiesoftheUpdatearealsotransferredto
such party or Computer; and (c) you acknowledge that any obligation Molanis may have to
supportthepreviousversionsoftheSoftwaremaybeendeduponavailabilityoftheUpdate.In
no event shall Molanis be obligated to provide you with Updates following the expiration or
terminationofthisAgreement,andinitssolediscretionmayterminateupdatesforanyversion
oftheSoftwareotherthanthemostcurrentversion.

6. NO WARRANTY. The Software is being delivered to you "AS IS" and Molanis makes no
warranty as to its use or performance. Molanis provides no technical support, warranties or
remediesfortheSoftware.MOLANISCANNOTWARRANTTHEPERFORMANCEORRESULTSYOU
MAYOBTAINBYUSINGTHESOFTWARE.

7. Governing Law. This Agreement will be governed by and construed in accordance with the
substantive laws in force: (a) in the province of Ontario, Canada. This Agreement will not be
governed by the conflict of law rules of any jurisdiction or the United Nations Convention on
ContractsfortheInternationalSaleofGoods,theapplicationofwhichisexpresslyexcluded.

8.GeneralProvisions.IfanypartofthisAgreementisfoundvoidandunenforceable,itwillnot
affect the validity of the balance of this Agreement, which shall remain valid and enforceable
according to its terms. This Agreement shall not prejudice the statutory rights of any party
dealing as a consumer. This Agreement may only be modified by a writing signed by an
authorized officer of Molanis. Updates may be licensed to you by Molanis with additional or
differentterms.ThisistheentireagreementbetweenMolanisandyourelatingtotheSoftware
and it supersedes any prior representations, discussions, undertakings, communications or
advertisingrelatingtotheSoftware.

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9.CompliancewithLicenses.Ifyouareabusinessororganization,youagreethatuponrequest
from Molanis or Molanis' authorized representative, you will within thirty (30) days fully
documentandcertifythatuseofanyandallSoftwareatthetimeoftherequestisinconformity
withyourvalidlicensesfromMolanis.

10.PrereleaseProduct Additional Terms.If the productyouhavereceived with thislicenseis

precommercial release or beta Software ("Prerelease Software"), then the following Section
applies. To the extent that any provision in this Section is in conflict with any other term or
condition in this Agreement, this Section shall supersede such other term(s) and condition(s)
with respect to the Prerelease Software, but only to the extent necessary to resolve the
conflict. The term granted to you for the use of the prerelease version is for 15 days or the
indicated when installing the software. You acknowledge that the Software is a prerelease
version,doesnotrepresentfinalproductfromMolanis,andmaycontainbugs,errorsandother
problemsthatcouldcausesystemorotherfailuresanddataloss.Consequently,thePrerelease
Softwareisprovidedtoyou"ASIS",andMolanisdisclaimsanywarrantyorliabilityobligationsto
youofanykind.WHERELIABILITYCANNOTBEEXCLUDEDFORPRERELEASESOFTWARE,BUTIT
MAYBELIMITED,MOLANIS'LIABILITYSHALLBELIMITEDTOTHESUMOFONEDOLLARS(U.S.$1)
IN TOTAL. You acknowledge that Molanis has not promised or guaranteed to you that Pre
releaseSoftwarewillbeannouncedormadeavailabletoanyoneinthefuture,Molanishasno
expressorimpliedobligationtoyoutoannounceorintroducethePrereleaseSoftwareandthat
Molanis may not introduce a product similar to or compatible with the Prerelease Software.
Accordingly,youacknowledgethatanyresearchordevelopmentthatyouperformregardingthe
PrereleaseSoftwareoranyproductassociatedwiththePrereleaseSoftwareisdoneentirelyat
your own risk. During the term of this Agreement, if requested by Molanis, you will provide
feedback to Molanis regarding testing and use of the Prerelease Software, including error or
bugreports.

11.InjunctiveRelief.ThepartiesagreethatifyouutilizeorotherwiseuseanyoftheSOFTWARE
in an unauthorized manner, or breach the remaining terms and conditions of this agreement,
that such use or breach would have a devastating and serious impact on Molanis continuing
ability to compete profitably and would, therefore, result in immediate and irreparable injury,
lossordamagetoMolanis.Thepartiesagreethatinsuchevent,inadditiontoMolanisrightto
recover damages for a breach of this agreement, Molanis would be entitled to obtain a
temporaryrestrainingorderorapreliminaryinjunctionfromacourtofcompetentjurisdictionto
preventYou,youremployees,agents,consultants,orindependentcontractorsfromengagingin
any further use of the SOFTWARE or the continued breach of the remaining terms and
conditionsofthisagreement.

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12. Miscellaneous. You acknowledge that Molanis collects and sends to Molanis certain
information regarding the users of the Software, including certain personally identifiable
information as well as certain information from the user's computer, including certain
information about your computer software and hardware such as your IP address, operating
system,Webbrowsersoftwareandversion.YouherebyconsenttoMolanis'collectionanduse
of such information, and agree that Molanis' collection and use of such information will be
governedbyMolanis'PrivacyPolicy.

If you have any questions regarding this Agreement or if you wish to request any information
fromMolanispleaseusetheaddressandcontactinformationincludedwiththisproductorvia
thewebatwww.molanis.com
Molanis.Wehelptraders!

WARNING:Tradinghaslargepotentialrewards,butalsolargepotentialrisk.Youmustbeaware
oftherisksandbewillingtoaccepttheminordertoinvest.Don'ttradewithmoneyyoucan't
afford to lose. The past performance of any trading system or methodology is not necessarily
indicative of future results. Hypothetical or simulated performance results have certain
limitations. Unlike an actual performance record, simulated results do not represent actual
trading. Also, since the trades have not been executed, the results may have underorover
compensatedfortheimpact,ifany,ofcertainmarketfactors,suchaslackofliquidity.Simulated
tradingprogramsingeneralarealsosubjecttothefactthattheyaredesignedwiththebenefit
ofhindsight.
The risk of loss in trading foreign exchange markets (FOREX), also known as cash foreign
currencies, the interbank market or the FOREX markets, can be substantial. You should
therefore carefully consider whether such trading is suitable for you given your financial
condition. FOREX trading involves substantial risk and is not for all investors. Investments or
tradingintheFOREXmarketscanbehighlyspeculativeandshouldonlybedonewithriskcapital
whichyoucanaffordtoloseandthat,iflost,wouldnotchangeoradverselyaffectyourlifestyle.
Thehighdegreeofleveragethatisoftenpossibleinforeignexchangetradingcanworkforyou
aswellasagainstyou.Theuseofleveragecanleadtolargelossesaswellasgains.ALTHOUGHIT
ISPOSSIBLETOPROFITBYTRADINGFOREIGNEXCHANGE,ITISALSOPOSSIBLETOLOSE100%OF
YOURDEPOSIT.

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