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Published:

2018.06.18 15:09

Notis.mq5 (13.02 KB) view

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Oscillator Notis% V measures the market volatility, based on the difference between the intraday High and Low.

Volatility is high, when the difference between lines Plus and Minus is large; volatility is low, when the difference is small.

The indicator can work in two modes of calculating and data providing:

Cumulative mode. In this mode, the indicator behaves as a normal oscillator having one line. In this mode, the indicator chart can also be inverted.
Non-cumulative mode (by default). In this mode, the indicator shows two line: Plus and Minus. The difference between the lines points to the volatility level of the market. Crossing - direction.

The indicator has four input parameters:

Period - calculation period;
Method - averaging method;
Cumulative mode - cumulative mode (switch Yes/No);
Inverse in cumulative mode - inverting the indicator chart in cumulative mode (switch Yes/No).

Calculations:

NOTIS[i] = 100*Plus[i] / (Plus[i] + Minus[i])

where:

Plus = Moving Average(P, Period, Method)
Minus = Moving average(M, Period, Method)
P[i] = High[i] - Close[i]
M[i] = Close[i] - Low[i]

Fig.1. mode by default

Fig.2. Cumulative mode without inverting

Fig.3. Cumulative mode with inverting

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20861

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