This is the most visually convenient trend power indicator based on Standard Deviation data.
The values of this indicator are shown in points and compared with MaxTrendLevel, MiddLeTrendLevel and FlatLevel levels that are indicator input parameters. Histogram bars can be colored in four colors depending on the comparison results. The values of these parameters must be set separately for each chart.
Indicator input parameters:
//+-----------------------------------+ //| Indicator input parameters | //+-----------------------------------+ input int period = 12; // Smoothing period input ENUM_MA_METHOD MA_Method=MODE_EMA; // Histogram smoothing method input ENUM_APPLIED_PRICE applied_price=PRICE_CLOSE; // Applied price input int MaxTrendLevel=100; // Maximum trend level input int MiddLeTrendLevel=40; // Middle trend level input int FlatLevel=10; // Flat level
MT5 Indicator – Download Instructions
ColorStdDev is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ColorStdDev 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 ColorStdDev.mq5?
- Download ColorStdDev.mq5
- Copy ColorStdDev.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 ColorStdDev.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ColorStdDev.mq5 is available on your Chart
How to remove ColorStdDev.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: