Hey there, fellow traders! Today, I want to introduce you to the ColorZerolagX10MA indicator, a nifty tool that enhances your trading strategy by providing a visual cue of trend strength using colored dots, based on the standard deviation algorithm.
So, how does it work? When the standard deviation of the ColorZerolagX10MA falls between the two parameters—dK1 and dK2—a small colored dot shows up right on the moving average. The color of this dot indicates the current trend direction, helping you make better-informed decisions.
input double dK1=1.5; // Square-law filter coefficient 1 input double dK2=2.5; // Square-law filter coefficient 2
If the standard deviation exceeds the dK2 parameter, the size of the dot increases. This gives you three distinct levels to gauge trend strength:
- Weak: No dots;
- Medium: Small colored dots;
- Strong: Big colored dots.
For those of you interested in the technical side, this indicator utilizes classes from the SmoothAlgorithms.mqh library, which you can find in the <terminal_data_folder>\MQL5\Include directory. If you're keen to learn more about these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1. The ColorZerolagX10MA_StDev indicator
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