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Published by:: Nikolay Kositsin
Views:: 8199
Rating:: (15)
Published:: 2011.12.28 09:41
Updated:: 2016.11.22 07:32

val_bands.mq5 (10.65 KB) view

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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.

TP (towards a position);
SL (against a position);
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 Ltd.
Original code: https://www.mql5.com/ru/code/687

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Val_Bands - indicator for MetaTrader 5