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Indicators

Volume weighted line chart with smoothing - indicator for MetaTrader 5

Conor Mcnamara
Views:
5171
Rating:
(5)
Published:
2024.11.13 16:02
Download as ZIP, How to download code from MetaEditor
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A simple indicator to make a smoother line chart while also using tick volume to determine the market direction.

The basic idea is to give you the true direction of where the market is moving.

When compared to the line chart, you can see that it is ignoring short noisy market movements. Smoothing can be adjusted in the input.

Some graphical elements are added to emphasize the direction of the market.

It's not a great idea to be placing trades when the line goes horizontal.



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