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Views:: 6516
Rating:: (19)
Published:: 2018.08.13 12:46

Average penetration histogram.mq5 (14.85 KB) view

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As described by Markos Katsanos and his article in the June 2018 edition of Technical Analysis of Stocks and Commodities magazine.

Additional choice of what is used for penetration criteria (in original only close price is used, in this version you can chose to use high/low instead too). Also, instead of using only simple moving average for averaging, it can be done using one of the 4 averages types:

Simple Moving Average
Exponential Moving Average
Smoothed Moving Average
Linear Weighted Moving Average

And finally : found one idea for calculating the histogram that comes from someone that calls himself "Vonasi" on the net. I liked the idea (it is not showing the usual "greater than" or "smaller than" histogram) and used it in this indicator too (as an option, so this indicator can calculate the histogram the "classical" way as well as that custom way)

Average penetration bars

Average Penetration indicator displayed as bars.

Trend direction and force

ATR adaptive double smoothed EMA

Average of median

Average of median price

Average penetration histogram - indicator for MetaTrader 5