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You liked the script? Try it in the MetaTrader 5 terminal
- Published by:
- Alexey Topounov
- Views:
- 18292
- Rating:
- Published:
- 2012.08.02 09:56
- Updated:
- 2016.11.22 07:32
-
Need a robot or indicator based on this code? Order it on Freelance Go to Freelance
Real author:
Daniel Fernandez
Indicator values are in the range 0-100. The greater is the indicator value, the greater is the market stability, so the more likely we have trend. The smaller is the indicator value - the less probable the trend is.
Calculation formula:
CMI = ((ABS(Close[0]-Close[n]))/(MaxHigh[n]-MinLow[n]))*100
Where:
- ABS - absolute value
- Close[0] - last close
- Close[n] - close N bars ago
- MaxHigh[n] - maximal value of High for the N bars period
- MinLow[n] - minimal value of Low for the N bars period
Tips:
Trading on unstable market:
- Buy, when moving average (blue line) of the CMI indicator is below 40 and the histogram is red.
- Sell when moving average (blue line) of the CMI indicator is below 40 and the histogram is green.
- Close positions when CMI histogram is above 50.
Trading on trend market:
- Buy when moving average is above 60 and the histogram is green.
- Sell when moving average is above 60 and the histogram is red.
- Close positions, when CMI histogram is below 50.
This indicator can be used as a filter in trend trading strategies.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/942
![Monitoring Spread](https://c.mql5.com/i/code/indicator.png)
Tools for monitoring spread of currency pairs
![Weather Vane](https://c.mql5.com/i/code/indicator.png)
This indicator calculates last average price for a symbol and determines the trend direction, so it can be a signal to commit a trade operation.