MI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Indicator Quality Index is used to look for trend reversals. It is based on the change between the highest price and the lowest price. If the bandwidth becomes wider, the quality index increases; if it becomes narrower, the quality index decreases.
It has four input parameters:
MI = SUM(EMA(HIGH - LOW, first period) / EMA(EMA(HIGH - LOW, first period), second period), result period)
Attachment download
📎mi.mq5 (11.45 KB)
Source: MQL5 #20699
MI - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
MI - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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