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Views:: 4030
Rating:: (23)
Published:: 2017.01.18 09:02

BoDi.mq5 (6.04 KB) view

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Real author:

paladin80

The principles of plotting this indicator, calculation formula, interpretation, algorithm for Expert Advisors and suggested parameters are described in the Forex Magazine №438.

This indicator is calculated as the difference between the upper and lower Bollinger Bands. You may find that during upward or downward impulse movement of the price the bands expand (the difference between them increases), and when the movement fades they narrow (the difference decreases). In my opinion, it is impossible to use this for determining the start of the movement, as it becomes evident only at the end.

Narrowing of the Bollinger Bands channel often coincides withe the moment of lull in the battle between bears and bulls, and this last moment can be utilized for searching the end point of the movement. The BoDi indicator displayed in a separate window of the chart as a histogram.

This indicator was first implemented in MQL4 and published in CodeBase at mql4.com on 17.08.2012.

Fig1. The BoDi indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/11378

Imp_XMA

Moving average wing averaging of the linear combination of the input price timeseries.

DownloadHistory

Symbol for downloading the history data for the current symbol with indication of progress.

Switching charts

The script switches all opened charts at a certain interval. It is also possible to display only the charts of certain symbols.

Stat

The script displays the brief statistics for trading on the instrument over the specified period - the number of deals, profit, profit factor.

BoDi - indicator for MetaTrader 5