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Val_Bands - indicator for MetaTrader 5
- Published by:
- Nikolay Kositsin
- Views:
- 8582
- Rating:
- Published:
- 2011.12.28 09:41
- Updated:
- 2016.11.22 07:32
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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.
- TP (towards a position);
- SL (against a position);
- 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.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/687
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