Download MetaTrader 5

Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

Indicators

Quantile bands - 1.5 - indicator for MetaTrader 5

| English Русский 中文 Español Deutsch 日本語 Português

Views:
2208
Rating:
votes: 20
Published:
2017.02.23 15:32
Updated:
2017.05.02 17:11
There is already one version of quantile bands (here : https://www.mql5.com/en/code/16491) but some changes needed to be made in order to reflect the lates metatrader 5 development, and some code optimization has been done in order to keep the whole thing cleaner and more usable.


In short - Quantiles  are:

In statistics and the theory of probability, quantiles are cutpoints dividing the range of a probability distribution into contiguous intervals with equal probabilities, or dividing the observations in a sample in the same way. There is one less quantile than the number of groups created. Thus quartiles are the three cut points that will divide a dataset into four equal-size groups (cf. depicted example). Common quantiles have special names: for instance quartile, decile (creating 10 groups: see below for more). The groups created are termed halves, thirds, quarters, etc., though sometimes the terms for the quantile are used for the groups created, rather than for the cut points.

q-Quantiles are values that partition a finite set of values into q subsets of (nearly) equal sizes. There are q − 1 of the q-quantiles, one for each integer k satisfying 0 < k < q. In some cases the value of a quantile may not be uniquely determined, as can be the case for the median (2-quantile) of a uniform probability distribution on a set of even size. Quantiles can also be applied to continuous distributions, providing a way to generalize rank statistics to continuous variables. When the cumulative distribution function of a random variable is known, the q-quantiles are the application of the quantile function (the inverse function of the cumulative distribution function) to the values {1/q, 2/q, …, (q − 1)/q}.

The indicator middle line is not based on the slope of the middle quantile. Instead it is a combination of the two outer quantiles. When both outer quantiles are showing the same "trend" the color of the middle quantile is the same as the outer quantiles, otherwise it is "undetermined" (grey, if you use default settings).




Double stochastic RSI - fl Double stochastic RSI - fl

Double stochastic - RSI floating levels.

Dsl - stochastic Dsl - stochastic

Dsl (discontinued signal line) - stochastic for MetaTrader 5.

Schaff trend cycle - adjustable smoothing Schaff trend cycle - adjustable smoothing

Schaff trend cycle - adjustable smoothing.

DMA (general) DMA (general)

DMA (general version).