Name: SFX Trend Or Range Indicator
Download: SFX TOR.mq4 (6.6 Kb)
Description:
A remarkably simple but very useful indicator. Earlier and clearer signals than ADX or VHF. More positive ranging signal than any other indicators.
Old conventional theory says when StdDev above ATR then market trending.
Usage:
Any pair, any time frame. Best used on majors and M15 period or higher
Source: Mql4.com
Download: SFX TOR.mq4 (6.6 Kb)
Description:
A remarkably simple but very useful indicator. Earlier and clearer signals than ADX or VHF. More positive ranging signal than any other indicators.
Old conventional theory says when StdDev above ATR then market trending.
- Yellow = StdDev
- Aqua = ATR
- Red = Smoothed Moving Average of the StdDev
Usage:
Any pair, any time frame. Best used on majors and M15 period or higher
- Yellow breaks above Red when below Aqua = Trend building
- Yellow breaks below Red when above Aqua = Trend exhausting
- Yellow below Red when below Aqua = Ranging/Sideways market
Source: Mql4.com
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