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Views:: 10015
Rating:: (25)
Published:: 2016.12.12 08:15
Updated:: 2017.03.13 09:19

Smoothed_repulse_2.mq5 (21.49 KB) view

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In short "repulse" would be :

The Repulse indicator measures and displays the bullish or bearish pressure associated with each price candlestick in the form of a curve.

It is more relevant when compared to price and offers valuable additional information on the feeling and confidence that traders have about the markets.

This version can use one of the 4 basic averages types for smoothing.

Coloring can be chosen depending on :

slope
outer levels cross
middle ("zero") level cross

Since the "repulse" indicator is not limited to known bounds, levels are dynamic — the "zero" value too. That makes it more responsive in the times of elevated volatility. Alerts are triggered based on the color change.

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Smoothed repulse - indicator for MetaTrader 5