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

Grzegorz Szeba

This indicator attempts to assess the true market value of a financial asset. The idea is to create something that changes direction more slowly than the market price and reflects conditions better than a moving average. If the price is above the indicator, the indicator will rise; if the price is below the indicator, the indicator will fall. The growth/decline rate is proportional to the average difference between the lowest and highest price of the bar during the time period specified in the settings.

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.

The indicator was originally written in MQL4 and first published in the code base on January 4, 2016.

Figure 1. RealValue indicator

Attachment download

📎 smoothalgorithms.mqh (130.19 KB)

📎 realvalue.mq5 (7.28 KB)

Source: MQL5 #14659