Vidya zone indicator using 3 prices for calculation : high, low and median.
But, if the regular Vidya was used then the zone would have errors due to different momentum for different prices at same bars. In order to solve that this version introduces a modified Vidya calculation that prevents that error and the Vidya zone is error free and produces logical results.
The zone is mainly intended to use in a breakout mode (ie: when the price is within the zone, that would be a no trading, or a warning zone, once when the price breaks out, consider entering the trades). This version additionally has a middle line color that changes value according to two outer colors. If the outer colors are the same, middle line shows that color, otherwise it remains neutral. That way a sort of an overall trend can be estimated using this indicator too.
Vidya - indicator MetaTrader 5 Basics: Variable Index Dynamic Average (VIDYA) technical indicator was developed by Tushar Chande. It is an original method of calculating…
