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2011.12.28 09:41
Indicators

Val_Bands - indicator for MetaTrader 5

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Published by:
Nikolay Kositsin
Views:
3175
Rating:
votes: 12
val_bands.mq5 (10.65 KB)view

Real author:

faa1947

Candlesticks length volatility indicator:

  • Histogram - candlestick length in points;
  • Lines: averages from the candlesticks length with standard deviation;
  • Settings are analogous to the Bollinger Channel.

Usage:

It is useful for tracking gaps on the market. The gap contains everything that is above the yellow line (histogram yellow bar) - crossing the upper border.

  1. TP (towards a position);
  2. SL (against a position);
  3. entry prohibition at this point;
  • crossing the lower border (histogram gray bar) - flat
  • crossing the lower border upwards (histogram red bar) - beginning of a trend.

This indicator was first implemented in MQL4 and published in Code Base at mql4.com 19.08.2010.

Val_Bands

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/687

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