Volatility_Quality_Index - MetaTrader 5 Script - MT4/MT5 Resources
Trend-based information signal indicator Volatility Quality Index shows parts of an up/down trend.
It has four adjustable parameters:
VQnew = Abs(((Closing Price - C2) / Maximum + (Closing Price - Opening Price) / (Highest Price - Lowest Price)) * 0.5) * ((Closing Price - C2 + (Closing Price - Opening Price)) * 0.5)
max = max(high - low, max(high - C2, C2 - low))
Opening price = MA (opening price, period, method)
High point = MA (high point, period, method)
Lowest price = MA (lowest price, period, method)
Closing price = MA(closing price, period, method)
C2 = before turning off the smoothing bar
Attachment download
📎 volatility_quality_index.mq5 (19.54 KB)
Source: MQL5 #22699
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