Movement Smoothness Index - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
motion smoothing index
"Determining when market prices are flat or fluctuating is not the easiest task, so here's a trend indicator that can give you that information."
The approximate range of this indicator is (0,1), the average x will decay with the length, when the indicator is below 0.5, the market is smooth, otherwise it is rough, this is a simple explanation. This indicator is simply the ratio of the standard deviation of price residuals to the standard deviation of prices.
Higher length values will make the indicator less accurate in detecting rough market prices, you can still use the indicator direction or its running average to provide you with insights, but 0.5 is still the recommended detection threshold. ” - Alex Grover
Attachment download
📎 motion_smoothness_index.mq4 (3.01 KB)
Source: MQL5 #36160
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