CMH - indicator for MetaTrader 5

CMH – indicator MetaTrader 5

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Indicator CMH (Clear Method Histogram) displays a color histogram of the current market trend. It is calculated by the “pure” method (without using any other indicators, only price) and has no configurable parameters.

Calculations:

  • If Swing > 0:

    CMH = High - HL

    Color – blue


  • If Swing < 0:

    CMH = LH - Low

    Color – pink

where:

HH = Maximum(High, PrevHH)
LH = Minimum(High, PrevLH)
HL = Maximum(Low, PrevHL)
LL = Minimum(Low, PrevLL)

  • If Swing > 0 and High < HL:

    Swing = -1
LL = Low
LH = High

  • If Swing < 0 and Low > LH:

    Swing = 1
HH = High
HL = Low

  • Otherwise, if High < HL:

    Swing = -1
LL = Low
LH = High

  • Otherwise, if Low > HL:

    Swing = 1
HH = High
HL = Low


CMH – indicator MetaTrader 5
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