Indicator Name : Kuskus Starlight
Description :
Kuskus Starlight is a technical indicator that functions as an oscillator, utilizing a Fisher price transformation to assist traders in identifying potential market trends and reversals. It is normalized over a specified range of periods, with adjustable smoothing parameters to tailor its responsiveness. This indicator is particularly valued for its role as a confirmation tool within trading systems, aiding in validating potential trade signals.
Background :
I discovered the Kuskus Starlight indicator through Stonehill Forex and the No Nonsense Forex (NNFX) YouTube channel. Both platforms highlight their utility as a confirmation indicator within their trading systems. According to Stonehill Forex, the indicator dates back to 2007, while NNFX references its release in 2017.
For a detailed overview and application of the Kuskus Starlight indicator, you can refer to the following resources:
Why I Coded It :
As a MetaTrader 5 (MT5) user, I was unable to find a version of the Kuskus Starlight indicator compatible with MT5. Recognizing its potential value for traders in the MT5 environment, I took the initiative to code it myself, ensuring that its functionality and integrity align with the original algorithm.
Original MT4 Code and Algorithm :
The original version of this indicator, designed for MetaTrader 4 (MT4), was posted by Scriptor and can be found here: Kuskus Starlight - MQL4 Code Base. My MT5 adaptation is based on this code and preserves its core principles while making it accessible to the MT5 community.
I hope this MT5 version of Kuskus Starlight proves to be a valuable addition to your trading toolkit!
Indicator Settings: DrawType Options
DrawType Options: Line
DrawType Options: Histogram
DrawType Options: StaryStaryNight
Arrow Type Options: Many Arrow type to choose from
