Real author:

Grzegorz Szczerba

This indicator is an attempt to evaluate the real market value of a financial asset. The idea was to create something that changes the direction slower than the market price and corresponds to the situation better than a moving average. The indicator increases, if the price is above it, and goes down, if the price is below. The rate of growth/decline is proportional to the average difference between the Low and High of the bars in a period specified in the settings.

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Originally this indicator has been written in MQL4 and was first published in the Code Base on 04.01.2016.

Figure 1. The RealValue indicator