It is based on the idea of flat and trend movements’ alteration. In other words, MinPriceChange is another indicator which sends signals as the price moved for some time aside and either continuation, or reversal is expected. Algorithm for calculation is in the following:
- calculate the sum of price changes on each bar for the specified period , i.e. the sum of differences (close[i] – close[i-1]).
- if the sum of price changes calculated on the current bar is less than the minimum sum calculated on the previous bars, then consider it a signal of a passed flat and starting breakthrough of boundaries of the current flat.
It should be noted that the idea of creation of the indicator is also “inspired” by the iVLT indicator. Well, perhaps, that is all what they have in common. It is a comparison of the current calculated value with the minimum value from the previously calculated ones. To my point of view, the idea is rather good and allows connecting not to any other values specified by the trader, but to a certain value determined by the market.
- Changes Period – period for calculation of sum of price changes (on the current bar).
- Check Period – period for detection the minimum sum of changes.
- Abs Change – if the parameter is true, we will summarize absolute values of changes, if false, we will summarize changes with the corresponding sign (+/-).
MT5 Indicator – Download Instructions
MinPriceChange is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
MinPriceChange 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 MinPriceChange.mq5?
- Download MinPriceChange.mq5
- Copy MinPriceChange.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 MinPriceChange.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator MinPriceChange.mq5 is available on your Chart
How to remove MinPriceChange.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: