RealValueExtended - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
This metric is my attempt to estimate true market value. An expanded version of my RealValue indicator with a new parameter that makes the chart smoother and changes direction slower.
The idea is to create something that changes direction much slower than the market price and is more suitable than a moving average.
If the price is above the indicator, the indicator moves upward; if the price is below the indicator, the indicator moves downward; if the price is below the indicator, the indicator moves downward with a speed proportional to the average of the differences between the minimum and maximum values of the period bars given as parameters.
Can be used alone or with a second RealValueExtended indicator with different parameters in the intersection.
Attachment download
📎 realvalueextended.mq4 (3.21 KB)
Source: MQL5 #13024
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