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2016.02.08 15:53

VolatilityQuality - indicator for MetaTrader 5

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Unnormalized oscillator used as a trend identifier. The oscillator color changes serve as the signal for opening positions.

//| Indicator input parameters        |
input Smooth_Method XMA_Method=MODE_LWMA; // Method of averaging
input int XLength=5; // Smoothing depth
input int XPhase=15; // Smoothing parameter
3//---- for JJMA within the range of -100 ... +100 it influences the quality of the transition process;
//---- for VIDIA it is a CMO period, for AMA it is a slow average period
input uint Smoothing=1; // Depth of recalculation
input uint Filter=5; // Filtration of the price chart in points
input App_price Price=PRICE_MEDIAN; // Price
input int Shift=0; // Horizontal indicator shift in bars
input int PriceShift=0; // Vertical indicator shift in points

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Originally this indicator has been written in MQL4 and was first published in the Code Base on 24.08.2008.

Figure 1. The VolatilityQuality indicator

Figure 1. The VolatilityQuality indicator

Translated from Russian by MetaQuotes Software Corp.
Original code:

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