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Published:

2018.07.13 15:32

CI.mq5 (9.16 KB) view

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Indicator CI (Congestion Identifier). It displays within how many bars before the current one the price was within the channel formed by the Close price of the current bar +/- Delta in points. It also displays the counter value threshold level and the marks, in which the counter is above or below that level.

The indicator has three configurable parameters:

Period - calculation period;
Delta - up/down shift from the price in points, which forms the channel width;
Level - threshold level of bars within the channel.

Calculations:

CI = count

where:

count - number of bars with the Close price within corridor Close+Delta - Close-Delta.

Signals:

If PrevCI < Level and CI > Level:

Out = Level

If PrevCI > Level and CI < Level:

In = Level

Out - signal of exceeding the Level;
In - signal of entering back inside the Level upon having exceeded it.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21225

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