Chaikin Volatility Index with Selectable Smoothing Algorithms
Info
The Chaikin Volatility Index with Selectable Smoothing Algorithms is a Indicator for MetaTrader 5 that this indicator distinguishes itself by offering the flexibility to change the smoothing algorithm. It provides a selection of ten distinct algorithms:- Simple Moving Average- Exponential Moving Average- Smoothed Moving Average- Linear Weighted Moving Average- JMA Adaptive Average- Ultralinear Smoothing- Parabolic Smoothing- Tillson's Multiple Exponential Smoothing- Smoothing using Tushar Chande's Algorithm- Smoothing using Perry Kaufman's AlgorithmIt is important to note that the phase parameter holds a different meaning for each smoothing algorithm.
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 Index with Selectable Smoothing Algorithms
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
This indicator distinguishes itself by offering the flexibility to change the smoothing algorithm.
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: Quantora Market Volatility Monitor MT5 - Professional ATR and Volatility Dashboard - another powerful indicator for MetaTrader 5 traders.
This indicator distinguishes itself by offering the flexibility to change the smoothing algorithm. It provides a selection of ten distinct algorithms:Also recommended: Volatility Regime Indicator - similar indicator with strong performance on MetaTrader 5.
- Simple Moving Average
- Exponential Moving Average
- Smoothed Moving Average
- Linear Weighted Moving Average
- JMA Adaptive Average
- Ultralinear Smoothing
- Parabolic Smoothing
- Tillson's Multiple Exponential Smoothing
- Smoothing using Tushar Chande's Algorithm
- Smoothing using Perry Kaufman's Algorithm
It is important to note that the phase parameter holds a different meaning for each smoothing algorithm.
For JMA, it represents an external phase variable ranging from -100 to +100.
For T3, it is a smoothing ratio multiplied by 100 for enhanced visualization.
For VIDYA, it is the CMO period. For AMA, it is the slow EMA period.
For AMA, the fast EMA period is a fixed value, defaulting to 2. The exponent ratio is also set to 2 for AMA.
The indicator utilizes classes from the smoothalgorithms.mqh library, which must be placed in the terminal_data_folder\mql5\include directory. The usage of these classes has been comprehensively detailed in the associated article.
You may also like: Session Volatility Heatmap - excellent alternative for indicator users on MetaTrader 5.
Source Code
/*
* for the indicator to work, place the
* smoothalgorithms.mqh file
* in the directory: metatrader\\mql5\include
*/
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property indicator_separate_window.......
⚠ 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.