Notis – indicator for MetaTrader 5
Oscillator Notis% V measures the market volatility, based on the difference between the intraday High and Low.
Volatility is high, when the difference between lines Plus and Minus is large; volatility is low, when the difference is small.
The indicator can work in two modes of calculating and data providing:
- Cumulative mode. In this mode, the indicator behaves as a normal oscillator having one line. In this mode, the indicator chart can also be inverted.
- Non-cumulative mode (by default). In this mode, the indicator shows two line: Plus and Minus. The difference between the lines points to the volatility level of the market. Crossing – direction.
The indicator has four input parameters:
- Period – calculation period;
- Method – averaging method;
- Cumulative mode – cumulative mode (switch Yes/No);
- Inverse in cumulative mode – inverting the indicator chart in cumulative mode (switch Yes/No).
NOTIS[i] = 100*Plus[i] / (Plus[i] + Minus[i])
Plus = Moving Average(P, Period, Method) Minus = Moving average(M, Period, Method) P[i] = High[i] - Close[i] M[i] = Close[i] - Low[i]
Fig.1. mode by default
Fig.2. Cumulative mode without inverting
Fig.3. Cumulative mode with inverting
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