BWImp-T01_StDev - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This BWImp-T01 indicator has an additional trend strength indication using colored points based on the standard deviation algorithm.
If the standard deviation of the BWImp-T01 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:
Figure 1. BWImp-T01_StDev indicator
Attachment download
📎 bwimp-t01_stdev.mq5 (15.49 KB)
📎 smoothalgorithms.mqh (130.19 KB)
Source: MQL5 #12966
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