Corr Speed - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Fixed speed indicator.
Velocity is often referred to as "smoother momentum" and this is true (it has smoother results without the lag associated with smoothness). This is also a logical step to having velocity as a "corrected" version so that both (momentum and velocity) can be used. For those looking for more "speed" in an indicator, Momentum may be the best choice. Speed was a possible choice for those looking for filtering value, but now, with two versions available, the choice is easy (and possible).
If the period "Correction" is set to <0, then the value and velocity are calculated.
While speed already does a good job of filtering out many false signals, the "correction" method goes one step further. Through a combination of floating levels, the selection of "significant changes" is not limited to zero crossings, and the response (or "expected lag") can be easily controlled.
Alerts are included. Depending on the color selection, an alarm will also be triggered. Possible color/alert choices are:
Velocity is an indicator of momentum series, but with all changes, "trend" usage should also be considered (the example above serves as a "bigger picture" example).
Attachment download
📎 corr_velocity.mq5 (27.03 KB)
Source: MQL5 #17253
Corr Speed - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Corr Speed - 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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