Ulcer Index - MetaTrader 5 Script | Martin EA Download - MT4/MT5 Resources - MetaTrader 5 Resources
The Ulcer Index (UI) indicator is a technical indicator designed by Peter Martin in his 1987 book, The Investor's Guide to Fidelity Funds.
The index is commonly used to measure the downside risk of stock market funds and is designed to measure downside volatility over a period of time.
The use of this indicator is simple:
The code works with any tool and time frame. However, the shorter the timeframe, the greater the potential for volatility and false signals, just like any other trend confirmation. Like most other indicators, it is not recommended to be used on its own, but rather as a trend confirmation tool to complement your strategy.
The first graph (below) shows the UI falling when the price rises, and the second graph shows the UI rising when the price falls.
Attachment download
📎 ulcerindex.mq5 (2.68 KB)
Source: MQL5 #19813
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