Phase Change Index - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Based on MH Pee's TASC article "Phase Change Index".
Prices may increase, decrease or remain unchanged at any time. Periods in which market prices remain relatively unchanged are called consolidations. Periods in which prices are relatively high are called uptrends, while periods in which prices are relatively low are called downtrends.
The Phase Change Index (PCI) is an indicator specifically designed to detect market phase changes.
The indicator is developed according to his description, but with one deviation: if we strictly follow his formula, the "trend" will be opposite to the actual market trend. Therefore, the option to display reversed (and more logical) values was added.
Attachment download
📎 phase_change_index.mq5 (9.83 KB)
Source: MQL5 #20732
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