AIS Ogival Shape Filter MT5
- Indicators
- Version: 1.0
- Activations: 5
This indicator is based on ogive forms. Such shapes are used in aerodynamics and space technology. Even bullets have some sort of ogival shape.
The use of such forms in a technical indicator makes it possible to achieve a compromise between the sensitivity of the indicator and its stability. That gives additional possibilities at its application.
Indicator parameters:
- iType - the type of the ogive form.
- iPeriod - indicator period.
- iFactor is an additional parameter used in parabolic and exponential forms. Valid value is 0 - 255. If iFactor = 0, then the indicator degenerates into a simple moving average.
- iChannel - a parameter that allows you to build upper and lower channels within which the price moves. Valid values are from -128 to 127. If the value is positive, the upper channel is drawn, and if the value is negative, the lower channel is drawn.
By combining these parameters, different results can be achieved. The indicator can be used to track trending price movements in the market. By building channels, you can get the nearest targets to which the price can move. Channel border values can be used as take profits and stop losses. Using iFactor, you can achieve the desired degree of smoothing of the financial time series.
