notis
Info
The notis is a Indicator for MetaTrader 5 that oscillator notis% v measures the market volatility, based on the difference between the intraday high and low. volatility is high, when the difference between lines plus and minus is large; volatility is low, when the difference is small.
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 notis
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
oscillator notis% v measures the market volatility, based on the difference between the intraday high and low.
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: Magnified Market Price Indicator - another powerful indicator for MetaTrader 5 traders.
oscillator notis% v measures the market volatility, based on the difference between the intraday high and low.
Also recommended: 3 tf mf i average - similar indicator with strong performance on MetaTrader 5.
volatility is high, when the difference between lines plus and minus is large; volatility is low, when the difference is small.the indicator can work in two modes of calculating and data providing:
cumulative mode
. in this mode, the indicator behaves as a normal oscillator having one line. in this mode, the indicator chart can also be inverted.
non-cumulative mode (by default)
. in this mode, the indicator shows two line: plus and minus. the difference between the lines points to the volatility level of the market. crossing - direction.
the indicator has four input parameters:
period
- calculation period;
method
- averaging method;
cumulative mode
- cumulative mode (switch yes/no);
inverse in cumulative mode
- inverting the indicator chart in cumulative mode (switch yes/no).
calculations:
where:
fig.1. mode by default
fig.2. cumulative mode without inverting
fig.3. cumulative mode with inverting
You may also like: background candle qq e cloud x ht f - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.