volatility_Bar – indicator for MetaTrader 4
I use the indicator mainly in my advisors to divide the market into volatile and flat.
Recommended M5 timeframe.
The indicator is displayed by a straight line in a separate one under the window. The meaning of the display colors: Red – strong flat; Yellow is
a weak flat; Blue – strong volatility; Green – weak volatility.
The indicator consists of the maximum range of the previous 5-bars divided by a coefficient with further smoothing. The indicator has a
threshold level of volatility, and a coefficient that is regulated by external variables.
input int bar = 6; // number of bars to calculate input int koef = 50; // candle division ratio input double level = 0.75; // midline volatility level