Relative Strength Levy – indicator for MetaTrader 4

Relative Strength Levy – indicator for MetaTrader 4

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Description:
The concept of Relative Strength to Levy is based on the assumption that, securities which exhibited a large relative strength in the past will also develop relatively strongly in future, and conversely.
It is compare on the performance of the past with the performance of last observation period.

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Calculation:
Arithmetic mean of the candle closing price over the observation period.
The result is plotted around the 1.0 mark. 

C is Close and MA is the Moving Average.

Interpretation:

  • If an instrument has an RSL of greater than 1, it is more likely than not, the instrument is more than weak in the past.
  • Second interpretation of Levy is to first divide the standard deviations of the last 27 weekly closing prices. The intention of this method is to determine the volatility of the securities being observed.

MT4 Indicators – Download Instructions

Relative Strength Levy is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.Subway 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 the software?

  • Download the mq4 file from the zip file.
  • Copy the mq4 file 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 the mq4 file.
  • Attach to a chart
  • Modify settings or press ok
  • Indicator should be available on your Chart

How to remove tim.mq4 from your Metatrader 4 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

MT4 Indicators Download below:

Relative Strength Levy – indicator for MetaTrader 4