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This indicator is an anchored semi-logarithmic scale oscillator. A logarithmic scale is widely used by professional data scientists to more accurately map information collected throughout a timeframe, in the same way that MT5 maps out price data. In fact, the underlying logic of this indicator was freely obtained from an overseas biotech scientist. A log-log chart displays logarithmic values on both the x (horizontal) and y (vertical) axes, which generally produces a straight line that points up
The Logarithmic Moving Average indicator is a moving average that inverts the formula of an exponential moving average. Many traders are known to use logarithmic charts to analyze the lengths of price swings. The indicator in this post can be used to analyze the logarithmic value of price on a standard time scaled chart. The trader can set the following input parameters: MAPeriod [defaults to: 9] - Set to a higher number for more smoothing of price, or a lower number for faster reversal of the l
The volume weighted average price indicator is a line study indicator that shows in the main chart window of MT5. The indicator monitors the typical price and then trading volume used to automatically push the indicator line toward heavily traded prices. These prices are where the most contracts (or lots) have been traded. Then those weighted prices are averaged over a look back period, and the indicator shows the line study at those pushed prices.
The indicator in this post allows the trader t
The Better Daily Range indicator shows the previous trading day's price range on the current day's chart. Many traders mark out the previous day's high, low, and the current day's open before trading.
This is not an average true range indicator (ATR). This is not an average daily range indicator (ADR). This is a daily range indicator (DR).
This indicator shows horizontal maximum and minimum range lines.
If your broker-dealer's MT5 platform shows Sunday bars, Sunday bars are not included as pr