HL Deviation MT4
This indicator belongs to the Oscillators group. It is based on analysis of changes in closing prices between the highest and the lowest levels for a certain period. Indicator values fluctuate around the zero level. Its intersection is a) a sign of a possible change of impulse price movement; b) a signal to opening a position.
Blue Histogram - upward momentum. Red histogram - downward momentum. Change of the histogram color to blue - a buy signal. Color change to red - a signal to sell.
- hl-period - the number of bars for the calculation of the highest and lowest levels.