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2013.01.25 15:25

Normalized Volume - indicator for MetaTrader 5

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votes: 20

The real author:

Vadim Shumilov

Normalized Volume is an indicator whose main purpose is to filter false signals which occur in the side movement of the market.

The basis of the strong side of the Normalized Volume indicator is a work with the volume and price, and a theory that occurrence of strong trend movements is, as a rule, supported by increase of the market volume. Therefore the Normalized Volumе indicator has low and high volume filtering.

The signal to open position occurs above the horizontal line "1", the price movement is strong enough and the breakthrough can be considered as true.

The principles of the Normalized Volume indicator are particularly useful in the breakthrough or rollback strategies, as they allow to go away from the unnecessary losses.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the 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".

Fig.1 The NormalizedVolume indicator

Fig.1 The Normalized Volume indicator

Translated from Russian by MetaQuotes Software Corp.
Original code:

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