Stochastic DeMarker - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The DeMarker indicator is used in technical analysis to compare recent price movements with prices in the previous period in an attempt to gauge demand for the underlying asset. This indicator is commonly used to identify price exhaustion and can also be used to identify market tops and bottoms. This oscillator ranges between 0 and 1, and unlike many other oscillators, it does not use smoothed data.
Technical traders primarily use this indicator as a method of identifying the level of risk at which they wish to trade. Generally speaking, values above 0.6 indicate lower volatility and risk, while values below 0.4 indicate increasing risk.
This version uses the "help" of the Smoothed Stochastic indicator to emphasize DeMarker's status and help make trend assessment easier.
Attachment download
📎stochastic_demarker.mq5 (7.31 KB)
Source: MQL5 #20076
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