Smoothed repulse – indicator for MetaTrader 5
In short “repulse” would be :
The Repulse indicator measures and displays the bullish or bearish
pressure associated with each price candlestick in the form of a curve.
It is more relevant when compared to price and offers valuable
additional information on the feeling and confidence that traders have
about the markets.
This version can use one of the 4 basic averages types for smoothing.
Coloring can be chosen depending on :
- outer levels cross
- middle (“zero”) level cross
Since the “repulse” indicator is not limited to known bounds, levels are dynamic — the “zero” value too. That makes it more responsive in the times of elevated volatility. Alerts are triggered based on the color change.