velocity - normalized
Info
The velocity - normalized is a Indicator for MetaTrader 5 that velocity (which is often called a "smoother momentum" since it is much smoother than momentum without lagging at all) with an addition of 3 types of normalization:atr normalizationstandard deviation without sample correctionstandard deviation with sample correctionalso, since velocity is (even when normalization is applied), not an indicator with fixed bounds, this indicator is using floating levels for what is usually called overbought and oversold levels (+ a floating "zero" line is added). something that would look like a "fixed levels" is easily achieved if you use long floating levels period in which case those levels are quite similar to fixed levels.
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 velocity - normalized
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
velocity (which is often called a "smoother momentum" since it is much smoother than momentum without lagging at all) with an addition of 3 types of normalization:atr normalizationstandard deviation without sample correctionstandard deviation with sample correctionalso, since velocity is (even when normalization is applied), not an indicator with fixed bounds, this indicator is using floating levels for what is usually called overbought and oversold levels (+ a floating "zero" line is added).
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: institutional toxic flow and tick velocity monitor - similar indicator with strong performance on MetaTrader 5.
velocity (which is often called a "smoother momentum" since it is much smoother than momentum without lagging at all) with an addition of 3 types of normalization:atr normalization
standard deviation without sample correction
standard deviation with sample correction
also, since velocity is (even when normalization is applied), not an indicator with fixed bounds, this indicator is using floating levels for what is usually called overbought and oversold levels (+ a floating "zero" line is added). something that would look like a "fixed levels" is easily achieved if you use long floating levels period in which case those levels are quite similar to fixed levels.
indicator can be used like any momentum indicator (in that case recommended coloring mode is to use either slope coloring or "zero" middle level crossing coloring) or it can be used as a "trending" indicator in which case it is better to use coloring on outer level cross, and longer calculation periods are advised in that case.
You may also like: Stochastic Index Indicator (Normalized Smoothed Q-Period Stochastic) - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ 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.