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

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

If the standard deviation of the BinaryWave indicator is between the dK1 and dK2 parameter values, 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:

Figure 1. BinaryWave_StDev indicator

Attachment download

📎 binarywave_stdev.mq5 (22.53 KB)

📎 smoothalgorithms.mqh (130.19 KB)

Source: MQL5 #12970