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Views:: 4980
Rating:: (32)
Published:: 2021.12.09 11:28

Momentum deviation.mq5 (8.67 KB) view

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This is a variation on the standard deviation

it is using momentum of price (instead price itself) for calculation
it is calculated in a way that it takes minimal CPU load

As far as values are concerned, it is similar to standard deviation. Same as standard deviation it can calculate deviation of anything

Comparison : upper is this one, lower is standard deviation

Recommendations:

You can use it as any standard deviation indicator

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Momentum deviation - indicator for MetaTrader 5