Market Change Cycles MT5 Lite
Market Change Cycles - calculates the position of the price not only in relation to MaxHigh and MinLow, but also displays the difference between them from the opening price, which allows you to take market volatility into account when creating a strategy
How similar are the Market Change Cycles and the Stochastic Oscillator?
- The closer the histogram value is to the upper line (the upper blue line in screenshot №1) - the closer the value of Stochastic Oscillator will be to 100
- The closer the histogram value is to the lower line (the lower blue line in screenshot №1) - the closer the value of Stochastic Oscillator is to 0
For example, as one of the options, this indicator can be used as a filter of signals of the standard Stochastic Oscillator indicator as follows:
- If the MCC values (in D mode) several bars in a row are in the upper zone and the value of at least one bar exceeded the upper level 300 (first screenshot) - then sell signals should be considered
- If the MCC values (in D mode) several bars in a row are in the lower zone and the value of at least one bar is below the lower level of -300 - then buy signals should be considered
In the lite version of this indicator, all values are calculated without slowing down at the price of Low/High
Input parameters:
- Mode - indicator mode
- K period - main indicator period
- Signal line - Show or Not show signal line
- D period - signal line period
- Levels - Show or Not show levels in the indicator window
- Upper level - indicator top level value
- Lower level - indicator bottom level value
Open sourse code - https://www.mql5.com/ru/code/25993
Full version - https://www.mql5.com/en/market/product/40113
Version for MT4 - https://www.mql5.com/en/market/product/38531
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