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

This is based on the most visually convenient trend strength indicator standard deviation data.

The value of the indicator is displayed in points and compared with the MaxTrendLevel, MiddLeTrendLevel and FlatLevel levels as input parameters of the indicator. Based on the comparison results, the histogram bars can be colored in four colors. The values ​​of these parameters must be set individually for each chart.

Indicator input parameters:

 //+------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------+
Input integer period = 12 ; // smoothing period
Input ENUM_MA_METHOD MA_METHOD= MODE_EMA ; // Histogram smoothing method
Enter ENUM_APPLIED_PRICE application price = PRICE_CLOSE ; // application price
Input integer maximum trend level = 100 ; // maximum trend level
Input integer mid-trend level = 40 ; // mid-trend level
Enter integer leveling = 10 ; // Horizontal plane 

Attachment download

📎 colorstddev.mq5 (7.04 KB)

Source: MQL5 #761