Author: raff1410
The VQ Bars indicator is a powerful trend indicator that displays colored dots on your price chart, clearly indicating the direction of the trend. Whether you're a novice or a seasoned trader, this tool can help you make more informed decisions.
One of the standout features of the VQ Bars is its flexibility with smoothing algorithms. You can choose from ten different types to suit your trading style:
- SMA - Simple Moving Average
- EMA - Exponential Moving Average
- SMMA - Smoothed Moving Average
- LWMA - Linear Weighted Moving Average
- JJMA - JMA Adaptive Average
- JurX - Ultralinear Smoothing
- ParMA - Parabolic Smoothing
- T3 - Tillson's Multiple Exponential Smoothing
- VIDYA - Smoothing with Tushar Chande's Algorithm
- AMA - Smoothing with Perry Kaufman's Algorithm
It's important to understand that the phase parameters for these smoothing algorithms can differ significantly. For instance, the JMA uses an external Phase variable that ranges from -100 to +100, while T3 employs a smoothing ratio multiplied by 100 for clearer visualization. VIDYA relies on a CMO oscillator period, and AMA uses a slow EMA period. Keep in mind, for most algorithms, these parameters do not influence the smoothing effect. In the case of AMA, the fast EMA period is a fixed value set at 2 by default, and the exponent for raising is also set to 2.
To use this indicator, you'll need to include the SmoothAlgorithms.mqh library classes, which should be saved in your terminal_data_folder/MQL5/Include directory. You can find a detailed explanation of how to utilize these classes in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
This indicator first made its debut in MQL4 and was published in the Code Base on July 17, 2008.
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