Balance of Market Power - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
As inventor/developer Igor Livshin describes in his article "The Balance of Market Forces":
He uses a simple moving average to smooth the values. This version uses an improved Jurik filter instead. Bands are calculated using something called "Jurik deviation" rather than using standard deviation, which results in a much faster response. There are no parameters other than smoothing and band period, so it is a fairly simple indicator to use (parameter-wise), but as usual, some experimentation is recommended.
Attachment download
📎 balance_of_market_power_2.mq5 (19.1 KB)
Source: MQL5 #17196
Balance of Market Power - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Balance of Market Power - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. 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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