VolatilityPivot - MetaTrader 5 Script - MQL5 #1563
Real author:
This indicator is calculated based on currency pair volatility and shows the nearest support and resistance levels based on the direction of the trend. It can be used as a trend indicator.
The indicator was first implemented in MQL4 and published in the code base on September 18, 2007.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.
Figure 1 Volatility Pivot Indicator
Attachment download
📎 smoothalgorithms.mqh (134.03 KB)
📎 volatilitypivot.mq5 (7.05 KB)
Source: MQL5 #1563
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