Hi Folks,
I would like to find an indicator for the MT4 platform that would give me a relative measure of the volatility for a currency pair. I am seeking to hold back on trades when volatility is on the wane and I need a way to measure that change in volatility. In other words I am trying to avoid chop.
I am already aware of the ADX (Average Directional Movement Index) and the BWI (Band Width, i.e. Bollinger Indicator) and have tested those and I am looking for something that is more reactive to changes in volatility.
If you are able to steer me in the direction of such an indicator other than the above two, I would sure appreciate the help.
Hope this is the right forum for this question (but I imagine if I got it wrong someone will volunteer to straighten me out - LOL).
Many thanks in advance for any assistance,
Rich
I would like to find an indicator for the MT4 platform that would give me a relative measure of the volatility for a currency pair. I am seeking to hold back on trades when volatility is on the wane and I need a way to measure that change in volatility. In other words I am trying to avoid chop.
I am already aware of the ADX (Average Directional Movement Index) and the BWI (Band Width, i.e. Bollinger Indicator) and have tested those and I am looking for something that is more reactive to changes in volatility.
If you are able to steer me in the direction of such an indicator other than the above two, I would sure appreciate the help.
Hope this is the right forum for this question (but I imagine if I got it wrong someone will volunteer to straighten me out - LOL).
Many thanks in advance for any assistance,
Rich