Efficiency Ratio Indicator
- Göstergeler
- Mattia Impicciatore
- Sürüm: 1.40
Short Description:
A powerful tool to measure trend efficiency and filter market noise. Toggle between a sleek line chart or a color-coded histogram with threshold alerts.
Key Features:
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Dual Plot Styles: Line (RSI-like) or colored histogram (Trend/Neutral/Range).
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Configurable Thresholds: Set your own upper (trend) and lower (range) levels.
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Multi-Mode Visualization: Clear visual cues—green for strong trends, gray for consolidation, red for ranging markets.
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Flexible Period: Adjustable calculation period (default 14).
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Lightweight & Fast: Optimized MQL5 code ensures minimal CPU usage.
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Seamless Integration: Drops into any chart as a separate window.
Inputs & Parameters:
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ER calculation period (int): Number of bars for Efficiency Ratio (default = 14).
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Upper threshold (double): ER value above which the market is in trend (default = 0.6).
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Lower threshold (double): ER value below which the market is ranging (default = 0.2).
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Plot style (enum): Choose between Line or Histogram presentation.
How to Use:
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Attach the indicator to a chart.
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Adjust the period and thresholds in the Inputs tab.
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Select your preferred plot style: Line shows a clean ER curve; Histogram colors bars by state.
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Monitor the ER transitions:
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ER > upper threshold (trend signal)
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ER < lower threshold (range signal)
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Between thresholds (neutral)
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Benefits:
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Quickly spot trending vs. ranging conditions.
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Improve entry/exit timing by confirming market efficiency.
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Filter false breakouts in choppy markets.
Screenshots (suggestion):
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Chart view: ER line with dotted threshold lines.
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Chart view: ER histogram colored bars.
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Inputs panel showcasing parameters.
Support & Updates:
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Free updates and bug fixes for 12 months.
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Email support: mattimp93@gmail.com
