Chaikin Volatility (CH V)
Info
The Chaikin Volatility (CH V) is a Indicator for MetaTrader 5 that chaikin's volatility indicator calculates the spread between the maximum and minimum prices. It judges the value of volatility basing on the amplitude between the maximum and the minimum.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Chaikin Volatility (CH V)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Chaikin's volatility indicator calculates the spread between the maximum and minimum prices.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Institutional GA R C H(1,1) Volatility Forecaster - another powerful indicator for MetaTrader 5 traders.
Chaikin's volatility indicator calculates the spread between the maximum and minimum prices.
Also recommended: Relative Strength Index of Volatility - similar indicator with strong performance on MetaTrader 5.
It judges the value of volatility basing on the amplitude between the maximum and the minimum. Unlike Average True Range, Chaikin's indicator doesn't take gaps into account.According to Chaikin's interpretation, a growth of volume indicator in a relatively short space of time means that the prices approach their minimum (like when the securities are sold in panic), while a decrease of volatility in a longer period of time indicates that the prices are on the peak (for example, in the conditions of a mature bull market).
We recommend using Moving Averages and Envelopes as a confirmation of Chaikin's indicator signals.
A peak of indicator's reading appears when market prices rollaway from the new summit and the market turns flat.
A flat market resembles low volatility. An exit from the side movement (from a flat) is not accompanied by a significant increase of volatility.
Volatility grows along with the increase in price level over the previous maximum.
A rise of Chaikin's indicator level continues till a new price peak is reached.
A rapid decrease of volatility means that the movement is slowing down and that a back-roll is possible.
Chaikin Volatility Indicator
Calculation:
H-L (i) = HIGH (i) - LOW (i)H-L (i - 10) = HIGH (i - 10) - LOW (i - 10)CHV = (EMA (H-L (i), 10) - EMA (H-L (i - 10), 10)) / EMA (H-L (i - 10), 10) * 100
where:
HIGH (i) - maximum price of current bar;
LOW (i) - minimum price of current bar;
HIGH (i - 10) - maximum price of the bar ten positions away from the current one;
LOW (i - 10) - minimum price of the bar ten positions away from the current one;
H-L (i) - difference between the maximum and the minimum price in the current bar;
H-L (i - 10) - difference between the maximum and the minimum price ten bars ago;
EMA - exponential moving average.
You may also like: Chaikin Oscillator (CH O) - excellent alternative for indicator users on MetaTrader 5.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.