Author: Aleksandr Pak
Ever wondered how to measure the disorder in trading systems? Enter the EntropyMath Indicator, a nifty tool for those using MetaTrader 5. This indicator leverages a method known as random sample entropy calculation, helping traders like us gain fresh insights into market volatility.
The NumBars setting is your key parameter here. It defines the window width or period that the indicator uses, allowing you to tailor it to your trading style:
input uint numbars=12; //period of averaging
Visually, the EntropyMath indicator resembles the MACD histogram, making it familiar for those who have used MACD before. This tool first made its debut in MQL4 and has been gaining traction since it was published in the Code Base back on July 5, 2008. If you're curious about the technical details, you can find the source code of this script here.
Fig.1 The EntropyMath Indicator
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