FineTuningMACandle_Chl_Arr_StDev - MetaTrader 5 script

The indicator fine-tuning MACandle_Chl_Arr is based on the standard deviation algorithm and also indicates the trend strength with colored points.

If the standard deviation of the center line of FineTuningMACandle_Chl_Arr lies between the values ​​of parameters dK1 and dK2, a small colored point appears on the moving average. Its color correlates with the current trend direction.

 Enter double dK1= 1.5 ; // square law filter coefficient 1
Enter double dK2= 2.5 ; // square law filter coefficient 2

If the standard deviation is higher than the value entered for dK2, the size of the points increases. Therefore, we get three trend strength levels indicated.

The initial indicator candle color is passed by the signal line color.

The indicator uses classes of the library SmoothAlgorithms.mqh (copied to \MQL5\Include). The use of intermediate calculated average price series without additional buffers for these classes is described in detail in the article.

Figure 1. Indicator FineTuningMACandle_Chl_Arr_StDev

Attachment download

📎 FineTuningMACandle_Chl_Arr_StDev.mq5 (29.93 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #22804