CHOWithFlat – indicator MetaTrader 5

Real author:

Powered byStep

Chaikin Oscillator with the market flat state detection option. If the market is flat, the colored indicator cloud shrinks and is located in the 0 position, and a thick gray line appears.

The criterion for determining this state is a shrunk Bollinger. The critical Bollinger shrink value is fixed by a half of its bandwidth and defined in the indicator input:

input uint flat=100; // flat value in points

Figure 1. The CHOWithFlat indicator

Figure 1. The CHOWithFlat indicator


📈 ROBOTFX MetaTrader Expert Advisors and Indicators to maximize profits and minimize the risks