KWAN_RDP - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

A simple oscillator based on the values ​​of the iDemarker, iMFI and iMomentum indicators and implemented in the form of a two-color histogram.

Indicator calculation formula:

 kwan = MA(100 * iDemarker[bar] * iMFI[bar] / iMomentum[bar])

The growth of financial assets is usually accompanied by the growth of indicators and the aquamarine color of the histogram. If the indicator falls and the histogram appears red and pink, the asset is considered to have declined. The best time to execute a trade is when the histogram bars change color.

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). These classes perform intermediate calculations on average price series without using additional buffers .

Figure 1. Indicator KWAN_RDP

Attachment download

📎 KWAN_RDP.mq5 (18.59 KB)

📎 SmoothAlgorithms.mqh (130.2 KB)

Source: MQL5 #20606