CHOWithFlat - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Chaikin oscillator has market flat state detection option. If the market is flat, the colored indicator cloud shrinks to position 0 and a thick gray line appears.
The criterion for judging this state is Bollinger Band contraction. The critical Bollinger Band contraction value is fixed by half of its bandwidth and is defined in the indicator input:
Input unit flat = 100 ; // Flat value in points
Figure 1. CHOWithFlat indicator
Attachment download
📎CHO.mq5 (7.01 KB)
📎 CHOWithFlat.mq5 (10.12 KB)
📎 smoothalgorithms.mqh (134.03 KB)
Source: MQL5 #11321
CHOWithFlat - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
CHOWithFlat - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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