Hey All,
As part of my learning the ins and outs of the indicators used in Metatrader I found myself compulsively changing and creating indicators from scratch. Sometimes, I can’t help myself. 
Creating your own EAs and indicators is completely doable if you have some programming background but may be a bit tough if you’re starting out with no programming fundamentals. I wrote a brief introduction to creating indicators for MT4 on my blog. If folks have questions here i’d love to help out.
For giggles here are some screenshots of some of my creations:
LWMA/EMA/SMA indicator. I place magenta dots a the places where the LWMA and EMA plots cross.
Relative Strength Indicator with some visual trend indication.
Jared