Notis - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
The oscillator Notis% V measures market volatility based on the difference between intraday highs and lows.
When the difference between the positive and negative lines is large, volatility is high; when the difference is small, volatility is low.
The indicator can work in two calculation and data supply modes:
The indicator has four input parameters:
NOTIS[i] = 100*plus[i] / (plus[i] + minus[i])
Where:
Plus = Moving Average (P, Period, Method) Minus = Moving Average (M, Period, Method) P[i] = highest price[i] - closing price[i] M[i] = closing price[i] - lowest price[i]
Figure 1. Default mode
Figure 2. No-reversal accumulation pattern
Figure 3. Accumulation mode with inversion
Attachment download
📎 notis.mq5 (13.02 KB)
Source: MQL5 #20861
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