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Volatility_Stop.mq5 (8.05 KB) view

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Volatility Stop indicator is a stop level by volatility based on the article "10 Selling Tips" by Thomas Bulkowski.

It has two configurable parameters:

Calculation:

VS = Multiplier * HiLoAvg / Close

where:

HiLoAvg = MAH - MAL
MAH - SMA(High,Period)
MAL - SMA(Low, Period)

It can be used with the Volatility Stop Oscillator indicator.

By default, the indicator line is displayed below the price (Multiplier = 2):

To draw a line above the price, you should enter a negative coefficient value (Multiplier = -2):

The indicator can also be used to create a volatility channel by applying two indicators with different Multiplier values to a chart.

For example, you may use 0.618 for the lower line and -0.618 - for the upper one and trade when the lines of the obtained channel are broken.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22366

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Volatility_Stop - indicator for MetaTrader 5