Author: LeMan
If you're looking to sharpen your trading strategy, the Variation indicator is a fantastic tool to have in your arsenal. This trend indicator not only shows the current trend direction but also highlights the ideal moments to close your open positions.
You'll find three versions of this indicator to suit your trading style:
- Variation.mq5: Displays the trend as a simple line.
- ColorVariation.mq5: This variant shows the trend line in different colors based on the current trend direction.
- ColorJVariation.mq5: This one takes it a step further by incorporating additional JMA-smoothing for noise reduction.
The ColorJVariation.mq5 utilizes the СJJMA class from the SmoothAlgorithms.mqh library, which you can read more about in the article titled "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers." This is a great resource if you're keen on understanding the underlying mathematics.
To get started, make sure to place the Variation.mq5, ColorVariation.mq5, and ColorJVariation.mq5 files in your terminal_data_folder\MQL5\Indicators directory.
Fun fact: This indicator first made its debut in MQL4 and was published in the Code Base back on July 14, 2010. It's stood the test of time, proving to be a valuable asset for traders.
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