Real author:
StatBars TO
The Volume_Weighted_MA indicator with additional trend strength indication using colored dots based on the standard deviation algorithm.
If the standard deviation of the Volume_Weighted_MA indicator is between the dK1 and dK2 parameter values, then a small colored dot appears on the moving average. Its color corresponds 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 dK2 input parameter value, then the dot size increases. Thus, we get 3 levels of trend strength indication.
- Weak — no dots;
- Medium — small colored dots;
- Strong — big colored dots.
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".
Fig.1. The Volume_Weighted_MA_StDev indicator
