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

A non-normalized oscillator used as a trend identifier. The color change of the oscillator serves as a signal for opening a position.

 //+------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------+
Input Smooth_Method XMA_Method= Mode_LWMA ; //Method for averaging
Input integer X length = 5 ; // smoothing depth
Input integer X phase = 15 ; // Smoothing parameter
3//---- For JJMA, in the range of -100...+100, it will affect the quality of the transition process;
//----For VIDIA, it is the CMO cycle, for AMA, it is the slow average cycle
input unit smoothing = 1 ; // recalculated depth
Input unit filter = 5 ; // Filter the price chart in points
Enter App_price price = PRICE_MEDIAN ; // Price
Enter integer shift = 0 ; // indicator moves horizontally (in bars)
Enter integer price change = 0 ; // Vertical indicator moving points

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 August 24, 2008.

Figure 1. Volatility quality indicator

Attachment download

📎 smoothalgorithms.mqh (130.19 KB)

📎 volatilityquality.mq5 (9.37 KB)

Source: MQL5 #14310