ChuChu Rocket wrote: Sun Aug 15, 2021 9:19 pm Yeah, that MT4 Volatility Alarm is a good indicator for letting you know when there are spikes, huh. Good for counter-trend trading those retracements

I saw your request for the MT5 version of Volatility Alarm, what makes you prefer MT5 over MT4 nowdays?

I trade futures and only MT5 is used for futures. Not MT4.

optionhk wrote: Sat Aug 14, 2021 2:08 pm Thank you so much for adding the bands. You have now converted it into a leading and forecasting tool.

Unlike forex volume, futures volume is centralised and is reflected on mt4 or mt 5 platform for futures CFDs.
Is it possible to reproduce this indicator without bands by using day's volume ( instead of tick volumes) on the main chart to have better visualisation than the sub window can provide.
Particularly with a choice of displaying it as a volume trend in a ribbon format with when MAs are used.
If MAs are not used by selecting 1 as inputs to reflect actual volume driven price action then a
price trend cloud showing a single moving horizontal thick line showing maximum volume number will be helpful for a beginner to understand the importance of volume numbers and trade with confidence and not get engaged with learning of technical or fundamental analysis learning that needs a longer learning curve.

Traders should be able to use ADR -Fibo or any button of their choice on this cloud or ribbon styled chart.

Dear mtools,

Now I realize, tick volumes in the sub-window should be magnified in such a way that they match price levels in a rainbow or cloud area type of indicator to occupy the whole chart space. Sub-window may not be needed if that kind of chart cloud like is used. The two BB bands on the subwindow as well can be projected in the chart itself.
And for current scalping, two horizontal lines of high low volumes calculated with this formula should be ideal for scalping.

Volume daily Range (VDR) Projections Up llike Support line
= low[period] + Volume daily average [period];
VDR Projections Down =
high[period] - Volume daily average [period];

Daily Range (volumes counted and not pips)
DR = High[period] - Low [Period];
VDR = AVG ( DR, Period);

The idea came from the ADR projection tool I use for scalping. The indicator is attached. It also prints fibo. Those who would like to collect hourly volatility in pips can use Davinci Truly volatility an excellent statistics providing indicator.
Volatility Alarm is also attached.
All user-frinedly tools not requiring deep learning curve and can help any trader take a quick decision for trading.
No other indicators are really needed for a beginner other than these.

Could we have this indicator updated with the newest (smoothing) averages and prices? And colorchanging depending on the slope?

"It is similar to Standard Deviation, but on a first glance you shall notice that it is "faster" than the Standard Deviation and that makes it useful when the speed of reaction to volatility is expected from any code or trading system"

Also it would've been interesting to see this code used in(stead of) different volatility and/or stdev based indicators.

whiplashtm wrote: Sat Aug 21, 2021 1:37 am Could we have this indicator updated with the newest (smoothing) averages and prices? And colorchanging depending on the slope?



Also it would've been interesting to see this code used in(stead of) different volatility and/or stdev based indicators.

Added all the averages and prices.

mrtools wrote: Sat Sep 26, 2020 6:08 am Mtf, slope arrows, and alerts added.

Relative strength rank smoothed(mtf + alerts + arrows) is a very good indicator! If the teacher adds level options (+1, -1, etc. can be selected by themselves),
Make the bar line above +1, change its color, as an upward trend prompt; make the bar line below -1, change color, as a downward trend prompt. It's even better!

太虚一毫 wrote: Sun Aug 22, 2021 2:17 pm Relative strength rank smoothed(mtf + alerts + arrows) is a very good indicator! If the teacher adds level options (+1, -1, etc. can be selected by themselves),
Make the bar line above +1, change its color, as an upward trend prompt; make the bar line below -1, change color, as a downward trend prompt. It's even better!

Something like this?

mrtools wrote: Mon Aug 23, 2021 3:26 am Something like this?

Maybe my thoughts were not clearly expressed. What I mean is: the vertical line of DeepSkyBlue becomes blue when it is greater than +1; the vertical line of PaleVioletRed becomes red when it is less than -1.

The current version !! relative strength rank smoothed(mtf + alerts + arrows) is also very good!

My system

太虚一毫 wrote: Tue Aug 24, 2021 12:38 pm Maybe my thoughts were not clearly expressed. What I mean is: the vertical line of DeepSkyBlue becomes blue when it is greater than +1; the vertical line of PaleVioletRed becomes red when it is less than -1.

The current version !! relative strength rank smoothed(mtf + alerts + arrows) is also very good!

Like this.

mrtools wrote: Tue Aug 24, 2021 2:08 pm Like this.

Perfect! The benefits of this version are self-evident. Thanks a lot!