Market Sentiment for MT5
Market Sentiment is an indicator for MT5.
Market sentiment is the feeling or tone of a market. Also called investor sentiment, it is generally described as being bullish or bearish :
- When bulls are in control, prices are going up.
- When bears are in control, prices are going down.
Markets being driven by emotions, the market sentiment is about feelings whereas fundamental value is about business performance.
- Range in bars : numbers of bars used for the calculation, at your own convenience, default is 100
- Price averaging's period : period for averaging prices, at your own convenience, default is 13
- Show signals : will show an arrow for buy & sell opportunities, at your own convenience, default is true
- 0 : Bulls in % (always positive, ie. 75.5%)
- 1 : Bears in % (always negative, ie. -24.5%)
- 2 : Long entry, non-null is a signal (always -90)
- 3 : Short entry, non-null is a signal (always 90)
NB 1 : Bulls + MathAbs(Bears) = 100%
NB 2 : -90 & 90 has been chosen arbitrarily in a graphical purpose.