XBullsBearsEyes_Vol - indicator for MetaTrader 5

BullsBearsEyes_Vol indicator with additional averaging of the resulting histogram. A similar averaging is applied to dynamic overbought/oversold levels as well.

//+----------------------------------------------+ //|  INDICATOR INPUTS                  | //+----------------------------------------------+ input uint   period=13;                             // indicator averaging period input double gamma=0.6;                             // indicator smoothing ratio input ENUM_APPLIED_VOLUME VolumeType=VOLUME_TICK;   // volume  input int    HighLevel2=+25;                        // overbought level 2 input int    HighLevel1=+10;                        // overbought level 1 input int    LowLevel1=-10;                         // oversold level 1 input int    LowLevel2=-25;                         // oversold level 2 input Smooth_Method       MA_SMethod=MODE_SMA_;     // Averaging method input uint                MA_Length=12;             // Smoothing depth                     input int                 MA_Phase=15;              // first smoothing parameter, //---- for JJMA, changing within -100 ... +100, affects the transient process quality; //---- For VIDIA this is CMO period, for AMA this is a slow average input int    Shift=0;                               // Indicator horizontal shift in bars

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Fig. 1. XBullsBearsEyes_Vol indicator