deviation ratio
Info
The deviation ratio is a Indicator for MetaTrader 5 that indicator is based on calculation of two standard deviations and result is ratio between them. as single indicator it doesnt show direction of price, it only show high activity area.
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 deviation ratio
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
indicator is based on calculation of two standard deviations and result is ratio between them.
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: kinematic price physics: velocity and acceleration indicators - another powerful indicator for MetaTrader 5 traders.
Also recommended: statistical arbitrage and cointegration spread z-score for institutional trading - similar indicator with strong performance on MetaTrader 5.
indicator is based on calculation of two standard deviations and result is ratio between them.as single indicator it doesnt show direction of price, it only show high activity area. i recommend to combine it with other indicators or price action.
signal ideas:
when indicator cross treshold line and slope change back down.
when indicator cross treshold line up.
when indicator cross treshold line down.
when indicator is bellow treshold line its possible trending market.
You may also like: candle body ratio indicator: strength meter with heatmap - excellent alternative for indicator users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property version "1.00"
input int Short_StDevPeriod = 6; // Fast StDev period
input int Long_StDevPeriod = 27; // Slow StDev period
input ENUM_MA_METHOD Short_StDevMode = MODE_SMA; // Short StDev Moving Average method
input ENUM_APPLIED_PRICE Short_StDevPrice = PRICE_CLOSE; // Short StDev Moving Average price data
input ENUM_MA_METHOD Long_StDevMode = MODE_SMA; // Short StDev Moving Average method.......
⚠ 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.