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2009.04.08 06:19
Indicator Strength

Indicator Strength - indicator for MetaTrader 4

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This indicator displays, in histogram form, the difference between either:

  1. a fast and slow moving average (MA_Power=true)
  2. main and signal lines of a MACD indicator (MACD_Power=true)
  3. main and signal lines of a stochastic indicator (Stochastic_Power=true)

Only one option can be choosen (default is moving average) at any one time, although another indicator can be opened for another option.
This indicator also displays average (strength) levels of difference values above and below the zero line. This feature can be disabled (Set_Levels=false).
This indicator is meant to gauge the power/strength behind a price move.

Last comments | Go to discussion (7)
MQL4 Comments
mql4_comments | 11 Jul 2009 at 20:54

This is a great work. Thank you for sharing. A great filter for my trading strategy

What are the other indicators used in this chart?

MQL4 Comments
mql4_comments | 19 Jul 2009 at 22:04

Great Indicator. My EA truned from LOSS to Profit when I used this indicator as filter to filter out false signals.

Results without Indicator

Results with Indicator as filter

MQL4 Comments
mql4_comments | 4 Aug 2009 at 21:13

Great work on the Indi. Is there an EA available for the indicator?

MQL4 Comments
mql4_comments | 23 Jan 2011 at 03:29

Great work on the Indi. Is there an EA available for the indicator?

really like the idea of this indicator but for some reason when I load onto chart, I am not seeing the histogram, do you have any suggestions? regards


EXTASY | 20 Aug 2012 at 12:36
Hi, great indicator! Is it avaliable for MT5?