Juice - EMA Bias - Advanced - MetaTrader 5 Script - MT4/MT5 Resources
If the standard deviation level is a "juice" indicator, it shows above or below a certain desired level, so it shows whether we are in a period of increased or decreased volatility. A common method of checking fluid level is to use a fixed level. This approach has some serious problems:
It uses the average deviation (EMA deviation in this case) over the desired time period as the level instead of using a fixed level. In this way, it does not depend on the symbol or time frame, but adjusts itself according to the parameter settings.
"Juice" is not a directional indicator - it does not show a trend. It shows periods when volatility increased (above average) or decreased (below average). It should be used in such a way that it identifies periods of increased or decreased volatility.
Attachment download
📎 juice_ema_deviation_-_advanced.mq5 (11.67 KB)
Source: MQL5 #22993
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