chaikin volatility indicator (chv)
Info
The chaikin volatility indicator (chv) is a Indicator for MetaTrader 5 that the chaikin volatility indicator measures the spread between the highest and lowest prices, assessing volatility based on the range between the maximum and minimum values. unlike the average true range, this indicator disregards price gaps.
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 indicator (chv)
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
the chaikin volatility indicator measures the spread between the highest and lowest prices, assessing volatility based on the range between the maximum and minimum values.
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.
the chaikin volatility indicator measures the spread between the highest and lowest prices, assessing volatility based on the range between the maximum and minimum values. unlike the average true range, this indicator disregards price gaps.Also recommended: Volatility Regime Indicator - similar indicator with strong performance on MetaTrader 5.
chaikin's interpretation suggests that a rapid increase in the indicator over a short period indicates approaching minimum prices, often seen during panic selling. conversely, a gradual decline in volatility over an extended period signals peak prices, as observed in mature bull markets. it is advisable to use moving averages and envelopes to confirm chaikin's indicator signals.
key characteristics:
- a peak in the indicator occurs when market prices retreat from a new high, and the market enters a flat phase.
- a flat market is characterized by low volatility, and exiting this phase does not typically lead to a significant volatility increase.
- volatility rises as prices surpass previous highs.
- the indicator's ascent continues until a new price peak is reached.
- a swift decline in volatility suggests a slowdown in the price movement, potentially leading to a retracement.
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 the current bar
low (i) - minimum price of the current bar
high (i - 10) - maximum price of the bar ten positions earlier
low (i - 10) - minimum price of the bar ten positions earlier
h-l (i) - difference between the maximum and minimum price in the current bar
h-l (i - 10) - difference between the maximum and minimum price ten bars ago
ema - exponential moving average
You may also like: Session Volatility Heatmap - excellent alternative for indicator users on MetaTrader 5.
Source Code
#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"
#include <movingaverages.mqh>
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_plots 1
#property indicator_type1 draw_line
#property indicator_color1 dodgerblue
enum smoothmethod.......
⚠ 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.