Relative Impulse Force MT4

In the calculation algorithm underlying this indicator, the momentum strength of a trading instrument is determined by the ratio of the average value of its rise or fall to the difference between its price and the value of the moving average MA. In accordance with the results of this calculation, in the additional window of the trading chart of the instrument, the indicator builds a histogram whose green bar is a signal of a stronger impulse that occurred up or down from the zero level of the histogram, and its red bar is a signal of a weaker impulse.

According to the author of this indicator, the main task when creating it was to reflect the level of probability of a correction, namely a correction, and not to receive a signal for the beginning of a new movement in the price of a trading instrument. In my opinion, the author of this indicator coped well with this task, and its use as a kind of filter when opening a trading position is quite justified, especially when allocating some time to optimize it for your tasks.

Input parameters of the indicator:

Period - selection of the indicator period;
Method (MA) - selection of the calculation method for the MA moving average;
Shift (MA) - selection of a shift for the MA moving average;
Applied price (MA) - selection of the type of price applied for the moving average MA.