In this vein the mass index is a volatility technical studies that is devoid of a directional bias. The mass index forex indicator for metatrader4 was developed by donald dorsey and deploys the high low range to spot reversals in trend in respect to expansions in range. These levels of course can vary depending on the market traded.
The indicator s developer donald dorsey suggested that once the mass index runs above 27 then drops back below 26 5 this could be an indication that the trend could reverse course. Interpretation of the mass index. If the information measure expands the mass index will increase if it narrows the index decreases.
Is intended for detection of trend turns supported changes within the information measure between the out side and therefore the negligible value. Mass index metatrader 4 forex indicator. The mass index developed by donald dorsey in the early 1990s suggests.
A form of technical analysis that examines the range between high and low stock prices over a period of time. Free download of the mass index indicator by metaquotes for metatrader 4 in the mql5 code base. If the bandwidth expands the mass index increases if it narrows the index decreases.
The mass index is intended for detection of trend turns based on changes in the bandwidth between the maximal and the minimal price. Mass index provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye. Mass index is a metatrader 4 mt4 indicator and the essence of the forex indicator is to transform the accumulated history data.
Forex indicators download instructions. But in reality this can be a simple trend pullback. This can create the false illusion of a trend.
The mass index indicator is prone to also produce large moves by the time the mass index line it takes to drop back below the 26 5 level.
