Expert Advisors • Indicators • Scripts • Libraries

MQL.RobotFX.org is the biggest collection of MetaTrader expert advisors (MT5 & MT4), indicators, scripts and libraries that can be used to improve trading results, minimize risks or simply automate trading tasks

MetaTrader 5 Indicator | Volume weighted line chart with smoothing

A simple indicator to make a smoother line chart while also using tick volume to determine the market direction.

The basic idea is to give you the true direction of where the market is moving.

When compared to the line chart, you can see that it is ignoring short noisy market movements. Smoothing can be adjusted in the input.

MetaTrader Experts, Indicators, Scripts and Libraries

Some graphical elements are added to emphasize the direction of the market.

MetaTrader Experts, Indicators, Scripts and Libraries

It's not a great idea to be placing trades when the line goes horizontal.

53468