Val_Bands

Val_Bands – indicator MetaTrader 5

by

Real author:

faa1947

Candlesticks length volatility indicator:

  • Histogram – candlestick length in points;
  • Lines: averages from the candlesticks length with standard deviation;
  • Settings are analogous to the Bollinger Channel.

Usage:

It is useful for tracking gaps on the market. The gap contains everything that is above the yellow line (histogram yellow bar) – crossing the upper border.

  1. TP (towards a position);
  2. SL (against a position);
  3. entry prohibition at this point;
  • crossing the lower border (histogram gray bar) – flat
  • crossing the lower border upwards (histogram red bar) – beginning of a trend.
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This indicator was first implemented in MQL4 and published in Code Base at mql4.com 19.08.2010.


https://www.mql5.com/ru/code/687

Val_Bands – indicator MetaTrader 5
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