Move Easily - MetaTrader 5 Script | Forex Indicator Downloads - MT4/MT5 Resources - MetaTrader 5 Resources

The EMV (Ease of Movement) technical indicator is used to show the ratio between the price change rate and market trading volume.

Ease of Movement was developed by Richard W. Arms, Jr., author of the popular Arms Index. EMV is calculated as the ratio of the midpoint movement to the volume parameter (Volume/High - Low).

The basic formula looks like this:

EMV = Midpoint Movement/(Volume/High-Low)

Typically, EMV indicator values ​​are smoothed by a moving average with a smoothing period equal to 14 candlesticks.

Large positive values ​​indicate that price is rising while volume remains low. Large negative values ​​indicate that price is falling while volume remains low.

This indicator shows that the lower the price movement, the "heavier" the trading volume, and the less freedom of movement.

The indicator allows choosing a smoothing type 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.

Attachment download

📎 emv.mq5 (7.36 KB)

📎 smoothalgorithms.mqh (133.8 KB)

Source: MQL5 #521