Volatility ratio There is always a need to measure if the market is “quiet” or it is volatile. One of the possible ways is to use standard deviations, but the issue is simple: we do not have some levels that could help us find out if the market is in a state of lower or…
ZigZag Based on Close Prices Based on indicator ZigZag which is in-built in MT4, developed by MetaQuotes. It is changed slightly so that it isn’t calculated on highest Highs and lowest Lows, but instead uses highest Close and lowest Close of chart price history. See chart below for differences: ZigZag (red) versus ZigZagClose (yellow).
This indicator places a mark (a semaphore, spelling is semaphore and retained from the original) at the zig-zag for each of 4 zig zag evaluation lengths. This means the zig-zag does not draw lines on the charts, just marks the locations of the zig-zags. The algorithm is one of the simpler algorithms for zig-zag, found in a…
Currency Strength The Currency Strength indicator shows the relative strength of a currency compared to seven other currencies. You can combine 2 currencies in the same window and trade on the crossing.
SpreadWatch This indicator is ideal for scalpers who need to know the biggest spread possible with a broker. This will limit his stop-loss. Stop-loss should be higher than the biggest spread to minimize stop-hunt and slippage issues. Included the lowest spread.