Effort and Result MT5 Indicator by PipTick
- Göstergeler
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Michal Jurnik
"Talent is cheaper than table salt. What separates the talented individual from the successful one is a lot of hard work." - Stephen King. Those few words reflect myself very well. I am probably not the most talented developer in the world but I truly believe in hard work, professional attitude and - Sürüm: 1.1
- Güncellendi: 1 Aralık 2021
- Etkinleştirmeler: 5
The Effort and Result indicator is based on the work of Karthik Marar; a volume spread analysis trader.
It compares a price change (Result) to the volume size (Effort) for a certain period.
By comparing the effort and result, we can get more information about the future price movement. Both values are normalized and converted to a scale of 0 - 100 % based on a selectable look-back period.
This indicator is also known as the Effort Index.
The law of effort and result
The law of effort vs. result states that the change in the price of a trading vehicle is the result of an effort expressed by the level of volume and that harmony between effort and result promotes further price movement. In contrast, a lack of balance promotes a change in direction.
Main features
- The indicator compares the change in price (Result) to the size of the volume (Effort).
- Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN).
- Ready for backtesting (customizable Sessions_Back).
- Customizable parameters (Colors, Line thickness...).
- High-speed calculation.
- Available for MT4 and MT5.
Please visit the Effort and Result indicator product page for the input and output parameters settings.
