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Indicators

Volatility vs Range - indicator for MetaTrader 5

TheCoder
Published by:
TheCoder
TheCoder

TheCoder

  • Quant Engineer, Consultant at  Trading Robots and other Algorithms
  • United States
  • 5735
Wrote my first piece of software in 1994,
Graduated in my first Engineering degree in 2002 (Top Ranked University)
MBA in Finances in 2006 (Top Ranked)
MBA in Business Law in 2012 (Top Ranked)
Graduated in my second Engineering degree in 2014
Licensed with FINRA Series 57 in 2019
10 codes 16 comments
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19653
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(23)
Published:
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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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