PriceSpeed ​​- MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

This indicator shows the speed of price changes in points per minute. The general idea was taken from the average speed indicator , but the code was improved and the functionality expanded. In addition to average price velocity, which can be interesting for evaluating trends, peak velocity has been added to the new indicator, allowing the implementation of breakout and impulse strategies.

The estimate of peak velocity is based on the difference between the high and low of each candle (which is the maximum distance covered by the price within the time frame). This is an estimate, not an exact value, and this estimate is a lower bound because in most cases the time elapsed between the high and low moments is much less than the duration of the candle (time frame), that is, the velocity is actually higher. The indicator does not analyze smaller time frames.

In addition to the true peak speed in the direction of the candle, the indicator also calculates false peak speeds, which are formed during the movement from the opening to the first extreme (high or low, depending on the candle configuration) and from the second extreme to the close - both in the opposite direction to the true type of the candle.

Therefore, the indicator displays three buffers as a histogram:

To facilitate decision-making (importance of real and false peak speeds), the indicator also calculates the standard deviation of the peak speed for a given number of bars - it is shown as a dotted corridor.

Attachment download

📎 pricespeed.mq5 (5.51 KB)

Source: MQL5 #26025