According to the author Vitali Apirine, the width of the moving average bands indicator can be used as an indicator of volatility.
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The distance between the bands will widen as volatility increases and will narrow as volatility decreases. The moving average band width (MABW) measures the percentage difference between the bands. Changes in this difference may indicate a forthcoming move or change in the trend.
In this version the only deviation from the original published in TASC August 2021 magazine is that the indicator is drawing periods when the bands width is reaching its extreme lows in red (as a possible sign of expansion after extreme congestion)
Recommendations:
- It is not a directional indicator – it indicates volatility
- You can probably use it for indication of possible trend changes (after the lower extremes are reached) or trend continuation after a period of ranging
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MT5 Indicators – Download Instructions
[post-title] is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
[post-title] provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install [post-title].mq5?
Download [post-title].mq5
Copy [post-title].mq5 to your Metatrader Directory / experts / indicators /
Start or restart your Metatrader Client
Select Chart and Timeframe where you want to test your indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
Right click on [post-title].mq5
Attach to a chart
Modify settings or press ok
Indicator [post-title].mq5 is available on your Chart
How to remove [post-title].mq5 from your Metatrader 5 Chart?
Select the Chart where is the Indicator running in your Metatrader Client
Right click into the Chart
“Indicators list”
Select the Indicator and delete
