The Chaikin Volatility Histogram is a powerful tool that provides traders with insights into market volatility through a visually appealing colored histogram.
Understanding the Chaikin Volatility Histogram
This indicator is designed to help you gauge market fluctuations, making it easier to identify potential trading opportunities. Below are the key inputs you can customize for optimal performance:
//+-----------------------------------+ //| INDICATOR INPUTS | //+-----------------------------------+ input Smooth_Method XMA_Method=MODE_EMA_;// Smoothing method input int XLength=10; // Smoothing depth input int XPhase=15 // 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 uint ROCPeriod=10 // Second smoothing depth input uint HighLevel=50 // Highest volatility level input uint MiddleLevel=20 // Medium volatility level input uint ZeroLevel=0 // Zero volatility level input int LowLevel=-20 // Minimum volatility level input int Shift=0 // Indicator horizontal shift in bars
Integrating the Indicator
The Chaikin Volatility Histogram utilizes classes from the SmoothAlgorithms.mqh library. For an in-depth understanding of how to work with this class, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig. 1. Chaikin Volatility Histogram Indicator
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