The idea of the InverseReaction indicator is based on the assumption that an unusual price changes (going beyond the volatility range) is accompanied by a reverse movement.
There are many examples of this behavior: the case of Lehman Bros, Flash Crash, etc.
The signal appears when price goes beyond the boundaries of the gray volatility cloud. In this case, the reverse reaction can be expected. In this situation, the histogram bar is painted in the appropriate color.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
The original indicator was developed in the MQL4 language and published in the CodeBase on 10.10.2013.
MT5 Indicator – Download Instructions
InverseReaction is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
InverseReaction 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 InverseReaction.mq5?
- Download InverseReaction.mq5
- Copy InverseReaction.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 InverseReaction.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator InverseReaction.mq5 is available on your Chart
How to remove InverseReaction.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: