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Indicators

Volatility vs Range - indicator for MetaTrader 5

TheCoder

Published by:
TheCoder
Views:
1855
Rating:
votes: 7
Published:
2020.09.16 08:19
Updated:
2020.09.16 16:32

This Indicator is the Price Range Divided by the Sum of ALL candles within a certain amount of periods defined by user.

It has only has 2 inputs:

  •  The amount of candles to be considered
  •  Weather it should show the range in effect (Blue Horizontal Lines) to the screen or not .



Its main output on the separate scree, shows the main calculation:

  • Lower numbers, closer to 0 indicate consolidation zones, where price keeps moving up and down, within a range. (Better for scalping EA, Grid EA or any EA that needs price to go back and forth without getting out of that range)
  • Higher numbers, closer to 1, mean price movement is increasing the movement range, when defining a new trend, for example.




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