Volume_Weighted_MA_StDev - MetaTrader 5 Script - MT4/MT5 Resource

This Volume_Weighted_MA indicator has an additional trend strength indication, using colored points based on the standard deviation algorithm.

If the standard deviation of the Volume_Weighted_MA indicator lies between the values ​​of the dK1 and dK2 parameters, a small colored dot will appear on the moving average. Its color corresponds to the current trend direction.

 Enter double dK1= 1.5 ; // Square law filter coefficient 1 Enter double dK2= 2.5 ; // Square law filter coefficient 2

If the standard deviation is higher than the dK2 input parameter value, the point size increases. Therefore, we get 3 levels of trend strength indication.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1. Volume_Weighted_MA_StDev indicator

Attachment download

📎 volume_weighted_ma_stdev.mq5 (15.79 KB)

Source: MQL5 #15844