Chaikin_Volatility_Histogram - MetaTrader 5 script

The Chaikin Volatility Indicator is a colored histogram.

 //+------------------------------------------------+
//| Indicator input |
//+------------------------------------------------+
Enter Smooth_Method XMA_Method=MODE_EMA_; //Smoothing method
Input integer X length = 10 ; //Smooth depth
Input integer X phase = 15 ; //Smoothing parameter,
//---- For JJMA, changes in the range of -100...+100 will affect the quality of the transient process;
//---- For VIDIA this is the CMO period, for AMA this is a slow average
Input unit ROCP period = 10 ; //Second smoothing depth
Input unit high level = 50 ; // Maximum volatility level
Input unit medium = 20 ; // medium volatility level
Input unit zero level = 0 ; // Zero fluctuation level
Input integer low level = - 20 ; // minimum volatility level
Enter integer shift = 0 ; // indicator moves horizontally in units of bars

The indicator uses the category smoothing algorithm.mqh library. How to use this class is described in detail in the article "Average price series for intermediate calculations without using additional buffers" .

Figure 1. Chaikin_Volatility_Histogram indicator

Attachment download

📎 Chaikin_Volatility_Histogram.mq5 (18.94 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #21498