WmiVol_Pluse - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Murad Ismailov

Intraday volatility indicator without lag. It suggests trading areas for intraday strategies.

Usually, when quotes change rapidly (for example, from 07:00 to 21:00), it is necessary to calculate the best trading time.

This can be a problem if the instrument is unfamiliar. This indicator reads all the bars on the chart and displays statistics on which time of day activity is most active. The candle height (high price minus low price) is chosen as the activity criterion. High activity is highlighted by blue bars, low activity is highlighted by pink bars. This indicator can be used as a filter for different strategies, which requires high activity of the tool.

In this version, input parameters allow changing the calculation timeframe of the indicator and using the indicator on any chart

 Input ENUM_TIMEFRAMES time range = PERIOD_D1 ; //Approximate time

The indicator was originally written in MQL4 and first published in the code base on February 28, 2014.

Figure 1. WmiVol_Pluse indicator

Attachment download

📎 wmivol_pluse.mq5 (7.01 KB)

Source: MQL5 #15927