VM - Volatility Measure
Info
The VM - Volatility Measure is a Script for MetaTrader 5 that i would like to represent you a small script that copies candlestick data for the specified period of time and searches separate parts of the candlestick (body, upper and lower shadows) there. Then the script finds the maximum and minimum value, as well as the arithmetic mean value.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Scripts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use VM - Volatility Measure
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
I would like to represent you a small script that copies candlestick data for the specified period of time and searches separate parts of the candlestick (body, upper and lower shadows) there.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Script works on MetaTrader 5. Place the file in the MQL5/Scripts folder and restart the terminal.
Description & Settings
Related: MP C - Measure Popular Candles - another powerful script for MetaTrader 5 traders.
I would like to represent you a small script that copies candlestick data for the specified period of time and searches separate parts of the candlestick (body, upper and lower shadows) there. Then the script finds the maximum and minimum value, as well as the arithmetic mean value. In this case, scanning is performed on all timeframes. As a result, the script displays the received data as a table in the upper left corner of the active window.
Also recommended: Set Buy Limit Order - similar script with strong performance on MetaTrader 5.
FeaturesThe following abbreviations are used in the script:
MAX - maximum value,
MIN - minimum value,
MID - arithmetic mean value,
B - candlestick body,
US - upper shadow,
DS - lower shadow.
For smaller than weekly timeframes the results of arithmetic mean values are displayed with rounding up to one decimal place.
Note!
The script downloads the history on all timeframes, and it may be unable to download all the data at the first launch. In this case, of course, the display will be incorrect, at that copy error messages will be thrown to the log. To operate the script to the end, you need to run it after several time again.
There can also be possible crashes in data testimony on minute timeframes when using large periods of scanning, as the data arrays will be too large.
Why Do You Need It
The script was developed to search the distinctive features of pairs, exactly volatility. By using it you can find out on how many points the movement of these or those pairs is strong. The arithmetic mean value especially good assists to orient in it.
So, Here Is The Result of The Script Work.
You may also like: Open Random Charts - excellent alternative for script users on MetaTrader 5.
⚠ 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.