Amplitude (Min Max) Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

This indicator will show the amplitude [minimum value; maximum value for a given period] and can be used as an alternative to the ATR indicator. This indicator can be used to observe volatility and the strength of past moves, helping to identify excesses that may be reversed or repeated, provided the user has knowledge of complementary volume or standard deviation strategies.

The recommended period is 55200 for M1, 2400 for H1 (meaning 40 sessions of 23 hours each), or whatever complements your strategy.

v1.05 also has some fixes

v1.04 some fixes

v1.02 updated checks, implemented relative magnitude (percentage), updated annotations, more period input settings (D1, W1 and MN are constants since W1 is 7 days and MN is other values)

v1.01 code fixes (removed EventKillTimer() from OnDeinit() and added more comments - nothing actually important other than the comments)

v1.00 first release

Attachment download

📎 amplitude.mq5 (21 KB)

Source: MQL5 #35029