price speed
Info
The price speed is a Indicator for MetaTrader 5 that the indicator shows the speed of price change in points per minute. the general idea is taken from the , but the code has been improved, and the functionality has been expanded.
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 price speed
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 indicator shows the speed of price change in points per minute.
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 Candle Strength Analyzer MT5: Price Action and Wick Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: price channel indicator - similar indicator with strong performance on MetaTrader 5.
the indicator shows the speed of price change in points per minute. the general idea is taken from the , but the code has been improved, and the functionality has been expanded. in addition to the average price speed, which may be interesting for evaluation of trends, the peak speed has been added to the new indicator, which allows implementing breakout and pulse strategies.estimation of the peak speed is found based on the difference between high and low prices of each candle (this is the maximum distance that the price covers for the duration of the timeframe). this is an estimate, not an exact value, and the estimate is the lower bound, since in most cases, time passed between high and low moments is much less than duration of the candle (timeframe), that is, the speed is actually higher. smaller timeframes are not analyzed by the indicator.
in addition to the real peak speed in the direction of the candle, the indicator calculates false peak speeds, which are formed during the movements from open to first extremum (high or low, depeding from candle configuration) and from second extremum to close - both in the direction opposite to the real type of the candle.
thus, the indicator displays three buffers as histograms:
average price speed according to the algorithm of the original indicator (thick green);
peak real price speed (thin orange);
peak false price rate (thin red);
to facilitate decision making (how important are real and false peak speeds), the indicator additionally calculates the standard deviation of peak speeds for a given number of bars - it is displayed as a corridor of dotted lines.
parameters
averaging bars - the number of bars for averaging the speed of prices; both the original speed and peak ones are averaged (although when working with peak speeds, it makes sense not to do averaging, that is, to use 1);
price - price type for calculating the speed (it makes sense only for the original average price speed; not used for peak speeds);
peak deviation period - the number of bars for calculating the standard deviation of peak speeds;
You may also like: kinematic price physics: velocity and acceleration indicators - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "3.1"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_separate_window
#property indicator_buffers 5
#property indicator_plots 5
#property indicator_label1 "average speed"
#property indicator_type1 draw_histogram.......
⚠ 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.