Double Ulcer Index - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The Ulcer Index was originally intended for a different purpose than finding trends (the original calculation " ...measures the depth and duration of price declines from earlier highs... ") but if we imagine that the calculation can be done in the opposite way as well (perfect in Forex, where the symbol cannot have a 0 value - if it exists, it must have some value) then we can get something like this:

Additionally, the calculation of an "inverted" ulcer index was added as an experimental (and deviation from the original calculation) option. The direction calculated in reversal mode changes, even if the direction is reversed, it does not need to be redrawn and can be used as any other "regular" indicator. The results for the reverse pattern are interesting (at least) and it is recommended that you do some experimentation to find out which version suits your trading style better.

Attachment download

📎 dual_ulcer_index.mq5 (11.11 KB)

Source: MQL5 #22030