Belkhayate COG OnOff MT4
The Belkhayate On-Off indicator let you control the indicator using the keyboard or a button. The indicator calculates the dynamic center of gravity of an instrument and six parallel Bands. The external bands represent the extreme instrument movement: in other words, its volatility.
How it works: you can choose if you want the indicator always shown or always hided while switching among different time frames or financial instruments. Starting from this initial condition it's possible to show/hide the indicator just pressing the button or using the keyboard.
The Belkhayate indicator uses a non-parametric polynomial regression to calculate the center of gravity of the instrument and 6 parallel bands, 3 above it and 3 below it. The center of gravity band show the direction of the current market trend. The green and red bands serve as supports and resistances while the channel inside the grey band it's a waiting zone or a profit zone.
Time frames option: There is the possibility to use the indicator for each time frames with its own parameters
- It is possible to setup the look back bars for channels and the std of bands
- You can setup the m order of the polynominal regression. A number more lower allows you to transform the polynominal regression model toward lines
- You can setup the end of the calculations back of a quantity i of bars. Pratically you can moves the model back and and see the influence of last bars
- It is possible to customize the indicator in each time frames with its own parameters
- You can choose to shut down the price text bands
- You can choose their color, the style and the the width
- It is possible to shut down the button and setup your favorite keys to on-off the indicator
- It is possible to customize the button: the position on the screen, the size, the colors and the label