ColorXPWMA_Digit_StDev - MetaTrader 5 Script - MT4/MT5 Resource

This ColorXPWMA_Number indicator has an additional trend strength indication, using colored points based on the standard deviation algorithm.

If the standard deviation of the ColorXPWMA_Digit indicator is between the dK1 and dK2 parameter values, a small colored dot will appear on the moving average. Its color corresponds to 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 dK2 input parameter value, the point size increases. Therefore, we get 3 levels of trend strength indication.

The ColorXPWMA_Digit_StDev indicator uses the CJJMA class from the SmoothAlgorithms.mqh library (copy it to <terminal data folder> \MQL5\include). The use of classes to average price series for intermediate calculations without using additional buffers is described in detail in the article.

Figure 1. Indicator ColorXPWMA_Digit_StDev

Attachment download

📎 ColorXPWMA_Digit_StDev.mq5 (34.01 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #21718