Val_Bands - indicateur pour MetaTrader 5

Real author:

faa1947

Candlesticks length volatility indicator:

• Histogram - candlestick length in points;
• Lines: averages from the candlesticks length with standard deviation;
• Settings are analogous to the Bollinger Channel.

Usage:

It is useful for tracking gaps on the market. The gap contains everything that is above the yellow line (histogram yellow bar) - crossing the upper border.

1. TP (towards a position);
2. SL (against a position);
3. entry prohibition at this point;
   

• crossing the lower border (histogram gray bar) - flat
• crossing the lower border upwards (histogram red bar) - beginning of a trend.

This indicator was first implemented in MQL4 and published in Code Base at mql4.com 19.08.2010.