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2015.12.03 16:07
Indicators

Sentiment - indicator for MetaTrader 5

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This is a market sentiment indicator. It displays market sentiment — bullish or bearish.

The indicator works on centralized markets, such as FORTS. More in the article Principles of Exchange Pricing through the Example of Moscow Exchange's Derivatives Market.

It should be noted that when working with this indicator it is necessary to consider the current trend (e.g. by a technical analysis).

The Sentiment indicator

Attention: By default the indicator is configured to RTS futures. The attached parameters are for Brent, although they fit RTS as well.

Parameters:

  • Min. order volume — the required volume of limit orders.
  • Min. amount of orders — the required amount of limit orders.
  • Order volume difference — the required difference of the volume of limit orders, i.e. how many times the volume of SELL is greater than BUY and vice versa.
  • Order difference — the required difference of limit orders, i.e. how many times SELL orders are greater than BUY and vice versa.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/13976

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