Modified standard deviation.mq5 - MetaTrader 5 script | Forex indicator download - MT4/MT5 resources
The idea of revising the standard StdDev indicator is to improve the visibility of moments when the indicator value changes as a growth or decline.
These values can be interpreted as follows.
This indicator is traditionally used in conjunction with Bollinger Bands. If the price touches or approaches the upper Bollinger Bands and the color of the modified standard deviation changes from red to green, it can be interpreted as the beginning of an uptrend. If the price approaches the bottom of the Bollinger Bands and the corrected standard deviation starts growing, it signals the beginning of a downtrend.
Attachment download
📎 modifiedstddev.mq5 (14.21 KB)
Source: MQL5 #17538
Modified standard deviation.mq5 - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Modified standard deviation.mq5 - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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