Volume Weighted Line Chart with Smoothing - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
A simple indicator that produces smoother line charts while also using tick metrics to determine market direction.
The basic idea is to give you the true direction of market movement.
Compared to the line chart, you can see that it ignores short-term noisy market movements. Smoothness can be adjusted in the input.
Some graphic elements have been added to emphasize the direction of the market.
It is not a good idea to trade when the line is horizontal.
Attachment download
📎 volume-weighted_line_chart.mq5 (4.86 KB)
Source: MQL5 #53468
Volume-weighted line chart with smoothing - MetaTrader 5 script | Trading script download - MT4/MT5 resource usage and screening suggestions
Volume-weighted line chart with smoothing - MetaTrader 5 script | Trading script download - MT4/MT5 resources are trading script 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 on titles or short-term profit descriptions.
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