The ColorJ2JMA with additional trend strength indication using colored dots based on the standard deviation algorithm.
If the standard deviation of the ColorJ2JMA indicator is between the dK1 and dK2 parameter values, then a small colored dot appears on the moving average. Its color corresponds to the current trend direction.
input double dK1=1.5; // Square-law filter coefficient 1 input double dK2=2.5; // Square-law filter coefficient 2
If the standard deviation becomes higher than the dK2 input parameter value, then the dot size increases. Thus, we get 3 levels of trend strength indication.
- weak — no dots;
- medium — small colored dots;
- strong — big colored dots.
The ColorJ2JMAStDev indicator uses the CJJMA class from SmoothAlgorithms.mqh library (copy it to <terminal_data_folder>MQL5Include). The use of the class was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
MT5 Indicator – Download Instructions
ColorJ2JMAStDev Metatrader 5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ColorJ2JMAStDev Metatrader 5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ColorJ2JMAStDev Metatrader 5 Indicator.mq5?
- Download ColorJ2JMAStDev Metatrader 5 Indicator.mq5
- Copy ColorJ2JMAStDev Metatrader 5 Indicator.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ColorJ2JMAStDev Metatrader 5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ColorJ2JMAStDev Metatrader 5 Indicator.mq5 is available on your Chart
How to remove ColorJ2JMAStDev Metatrader 5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator:
ColorJ2JMAStDev Metatrader 5 Indicator