Watch how to download trading robots for free

Find us on Twitter!
Join our fan page

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

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

Views:: 4513
Rating:: (10)
Published:: 2018.07.09 13:44

CVI.mq5 (8.82 KB) view

Download as ZIP, How to download code from MetaEditor

: Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

Oscillator CVI (Chartmill Value Indicator) was described by Dirk Vandycke in the Technical Analysis of Stocks & Commodities magazine in January, 2013.

CVI represents a standard deviation from moving average and can be applied to any price series over any period.

The concept is simple. As prices grow, they will finally move away from the moving average. At the end, the moving average will also start growing. When prices start flatting out or consolidating, the gap between the prices and the moving average will start decrease, while the MA will continue moving inertially for some time.

As compared to other oscillators, the indicator displays overbought/oversold areas more efficiently, since the gap between the price and the MA is divided by the average true range, which strongly hardens deviating from the moving average on longer trend-following areas.

The indicator has three configured parameters:

Period - calculation period;
Method - Moving Average calculation method;
Calculation mode - deviation calculation mode:
- ATR - by ATR;
- Sqrt ATR - by square root of ATR.

Calculation:

CVI = (Close-VC) / ATR * Mode

where:

VC = MedianMA(Period, Method)
ATR - Average True Range(Period)

If Calculation mode = ATR:

Mode = Period

otherwise:

Mode = SQRT(Period)

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21105

APZ

Indicator APZ (Adaptive Price Zone) represents an adaptive price channel.

AML

Indicator AML (Adaptive Market Level) displays one of three market states: Flat, uptrend, and downtrend.

IMI

Indicator Intraday Momentum Index.

NV (Natenberg's Volatility) - Sheldon Natenberg's historical volatility indicator.

CVI - indicator for MetaTrader 5