INDICATOR NAME – Truly Volatility
DOWNLOAD THE INDICATOR – CLICK HERE
Hello everyone! A member made a request for available MetaTrader 4 volatility indicators in the room today. I did some research on the matter and found multiple that could be very helpful to determine, recieve alerts, have multiple visuals, etc for asset volatility.
Please note that these are not indicators created by Slick Trade, nor do we claim that we own them in any way. They are available free on the internet and we are happy to share good ones we find!
I will create a separate post for each of them and I hope they are a nice addition to your trading arsenals!
About
The Truly Volatility indicator is designed for determining volatility for the specified period and is displayed in a separate window as a histogram and line.
If attached to a chart with the Н1 timeframe, the indicator displays the average price movement for each hour (from 0 to 23) based on the history data. On the D1 timeframe it displays the average movement for each specific day of the week. The indicator also draws the total volatility line, calculated as the total length of N candles, divided by the number of candles. The period for analysis is specified in the settings.
Settings
- Calculated over past weeks – period of history data for calculation of volatility, specified in weeks.
- Candle type – candle length calculation type: Body – considers the Open and Close prices, Whole – consider the High and Low prices.
- Display Digits – display 4 or 5-digit point values on the indicator and text labels.
- Show Candle Size and comment – display the information panel and text labels about the size of candles on the chart.
- Show Hours and Day of Week – display the names of days of the week for D1, or the hour for H1 on the histogram.
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