This is an enhanced indicator from this post : https://www.mql5.com/en/forum/173380/page8
First, as an addition to the description that can be found on the post from that link, one video that might be helpful for usage of relative volatility index
Now the rest : this indicator can still use the fixed levels (as the "basic" version) but in this case it clearly shows how introducing floating levels can completely change the nature of the indicator. This indicator has the floating levels (which you can turn off by setting the floating levels to less than 1), and it seems that it really needed something like that (like all rsi like indicators, long periods of relative volatility index tend to get flatter and flatter, and then the fixed levels are becoming useless).
Some experimenting is recommended
Would it be possible to add (for testing and experimenting purposes) an option to draw vertical lines (or arrows) when the color changes? Thank you!
Same issue with arrays
Tradestation is working with arrays in a much different way - to the extent that it is as transparent as it gets and users often do not notice that they are using arrays. That, unfortunately can not be "imitated" easily
Here are the two latest versions
There is no limitation on ex4 file. You can use it the same was as you use custom indicators from any code (from an indicator, script or EA) : use the normal iCustom() call
Corrected that typo. Also alerts (6 types of alerts) added
Mladen, Good day sir,
Please Can i have the chaos visual averages 1.2.mq4 ?
here is that latest one.
Thank you for the index (wave trend oscillator - averages. ex4), you can make copies (HISTO)