Volatility_Bar - MetaTrader 4 Script | Trading Script Download - MT4/MT5 Resources

I primarily use this indicator in my advisors to classify markets into volatile and flat markets.

Recommended M5 time frame.

The indicator is displayed as a separate line at the bottom of the window. The meaning of the displayed colors: red - strong leveling; yellow - weak unit; blue - strong volatility; green - weak volatility.

https://www.mql5.com/ru/code/27552

The indicator consists of the maximum range of the first 5 bars divided by a further smoothing factor. The indicator has a threshold level of volatility, as well as coefficients that are modulated by external variables.

 Enter integer bar = 6 ; // number of bars to calculate
Input integer Kov = 50 ; // candle split ratio
Enter double level = 0.75 ; // midline swing level 

Attachment download

📎 volatility_bar.mq4 (8.28 KB)

Source: MQL5 #27572