Polarized Fractal Efficiency - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

Gimappiero Raschetti

Polarized Fractal Efficiency is a technical indicator that shows the efficiency of current market prices. The indicator value oscillates between -1 and +1, with the center line crossing the 0 level. If the indicator value is positive, the trend is assumed to be downward. If the indicator value is negative, there is an upward trend.

It is recommended to buy when the indicator value falls below -0,5. And it is recommended to sell when the indicator value rises above +0.5.

The indicator allows choosing the smoothing type of the initial XCVO histogram and its signal line from ten possible versions:

It should be noted that the Phase type parameters of different smoothing algorithms have completely different meanings. For JMA, it is an external phase variable that varies from -100 to +100. For T3, it is the smoothed ratio multiplied by 100 for better visualization; for VIDYA, it is the CMO oscillation period; for AMA, it is the slow EMA period. In other algorithms, these parameters do not affect smoothing. For AMA the fast EMA period is a fixed value, equal to 2 by default. For AMA, the ratio of raised powers is also equal to 2.

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.

The indicator was first implemented in MQL4 and released in the code base on August 22, 2008.

Attachment download

📎 smoothalgorithms.mqh (133.8 KB)

📎 xpfe.mq5 (7.07 KB)

Source: MQL5 #713