StdScore v4.2 - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources

Author http://fxcoder.blogspot.com

An oscillator that copies the chart of a selected asset in separate windows in three ways: line, bar and candlestick. This is essentially a Bollinger Bands indicator, displayed in a separate window. In my opinion, this is useful for beginners to look at various technical signals from a different perspective. This indicator helps me as an advisor filter out the bad moments in trading.

Calculation of standard assessments and their conclusions in the form of candles.

μ - moving average

σ- is the standard deviation

Interpretation method:

1. When you hold a trade and the trade is in the positive zone, the indicator value moving from 2 to 4 indicates that a local rebound may occur soon, so if your trade is designed for short-term fluctuations, then you should consider a fixed position.

2. Confirmation signal of breaking through the trading range and providing early signals for trading.

If you find more interesting examples of how to use this indicator, please write to me and I will be happy!

Attachment download

📎 stdscore-v4.mq4 (15.02 KB)

Source: MQL5 #29575