Smoothed ATR, recalculated as price chart points.
It uses color to show whether the trend strengthens or weakens. The red color corresponds to the trend strengthening, the yellow color corresponds to the trend weakening.
Indicator input parameters:
//+-----------------------------------+ //| Indicator input parameters | //+-----------------------------------+ input int ATRPeriod=12; // ATR period input Smooth_Method XMA_Method=MODE_JJMA; // Smoothing method input int XLength=5; // Smoothing depth input int XPhase=15; // Smoothing parameter input int Shift=0; // Horizontal shift of the indicator in bars
You can change averaging algorithms out of ten possible options in the indicator:
It should be noted that Phase parameters for different smoothing algorithms have completely different meaning. For JMA, it is an external Phase variable that varies from -100 to +100. For T3, it is a smoothing coefficient multiplied by 100 for better visualization. For VIDYA, it is a CMO oscillator period. And for AMA, it is a slow EMA period. These parameters do not affect the smoothing in other algorithms. For AMA, the fast EMA period is a fixed value and is equal to 2 by default. The powering coefficient for AMA is also fixed at 2.
The indicator uses the SmoothAlgorithms.mqh library classes (to be copied to the terminal_data_directory\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1 The ColorXATR Indicator
This indicator was first implemented in MQL4 and published in Code Base 26.04.2011.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1038
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