The Range Action Verification Index indicator implemented as a histogram of strength and direction of the current trend. The histogram is colored according to the values of input parameters for breakout levels:
input double ExtraHighLevel=+0.3; // Maximum trend level input double HighLevel=+0.1; // Strong trend level input double LowLevel=-0.1; // Weak trend level input double ExtraLowLevel=-0.3; // Minimum trend level
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 15.02.2008.
Fig.1. The RAVI_Histogram indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16082
The Exp_CandlesticksBW Expert Advisor based on signals of the CandlesticksBW indicator.RAVI_HTF
The RAVI indicator with the timeframe selection option available in input parameters.