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Published:

2018.04.18 17:09

Trend_Range.mq5 (22.76 KB) view

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The oscillator indicator draws a histogram (with border levels at two moving averages on the indicator histogram) showing three market states: a trend, a moderate or fading trend and a flat.

If the histogram bar (blue) is above the upper level (blue line), then there is a strong movement in the market;
If the histogram bar (red) is between the upper and lower levels (between the blue and red lines), then there is either a moderate or fading trend;
If the histogram bar (gray) is below the lower level (below the red line), then the market movement is weak and flat.

The indicator has three input parameters:

Period - calculation period;
Method - smoothing method;
Deviation - deviation for the calculation of threshold levels.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20156

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Trend Range - indicator for MetaTrader 5