Indicator FineTuningMACandle_Chl_Arr that additionally indicates the trend strength with colored dots, based on the standard deviation algorithm.
If the standard deviation of the FineTuningMACandle_Chl_Arr centerline is between the values of parameters dK1 and dK2, then a small colored dot appears on the moving average. Its color is relevant to the current trend direction.
input double dK1=1.5; // Square-law filter coefficient 1 input double dK2=2.5; // Square-law filter coefficient 2
If the standard deviation becomes higher than the value of input dK2, then the dot increases in size. Thus, we get three levels of trend strength indicated.
- Weak — no dots;
- Medium — small colored dots;
- Strong — big colored dots.
The initial indicator candle color is passed by the signal line color.
The indicator uses the classes of library SmoothAlgorithms.mqh (to be copied to <terminal_data_directory>\MQL5\Include). The use of the classes was thoroughly described in article Averaging Price Series for Intermediate Calculations without Using Additional Buffers.
Fig1. Indicator FineTuningMACandle_Chl_Arr_StDev
