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2011.11.02 14:12
Indicators

Swing Index - indicator for MetaTrader 5

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Swing Index is a math expression of the operations activity for the last two bars.

The indicator marks an "actual" instrument price by binding the current (Open, High, Low and Close) and previous prices. The data concerning the open prices must be available for the index calculation.

The following index characteristics should be noted:

  • The indicator describes price volatility;
  • Short-term price range is determined;
  • The confusion caused by several price types (High, Low, Close) is removed, the possibility to determine the actual power and market movement direction is provided.

Swing Index indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/513

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The Mass Index is intended for detection of trend reversals based on changes in the bandwidth between the highest and the lowest prices.

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The current time position in relation to the beginning and the end of the bar is shown. In addition the ratio between the time passed since the beginning of the bar and the whole bar duration expressed in percents is given. It is useful for choosing the moment of making a trade decision.

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Range Expansion Index (REI) is an oscillator that measures price changing rate and signals about overbought/oversold areas, in case a price shows weakness or strength.

yEffekt yEffekt

The indicator marks possible trend reversals.