Chaikin Volatility Index With a Smoothing Algorithm Selection – indicator MetaTrader 5

The main difference of this indicator from its standard equivalent is the possibility to change the smoothing algorithm by selecting an appropriate one out of ten algorithms present:

1. SMA – simple moving average;
2. EMA – exponential moving average;
3. SMMA – smoothed moving average;
4. LWMA – linear weighted moving average;
5. JJMA – JMA adaptive average;
6. JurX – ultralinear smoothing;
7. ParMA – parabolic smoothing;
8. T3 – Tillson’s multiple exponential smoothing;
9. VIDYA – smoothing with the use of Tushar Chande’s algorithm;
10. AMA – smoothing with the use of Perry Kaufman’s algorithm.

It should be noted that Phase parameter has completely different meaning for different smoothing algorithms.

• For JMA it is an external Phase variable changing from -100 to +100.
• For T3 it is a smoothing ratio multiplied by 100 for better visualization;
• For VIDYA it is a CMO period, for AMA it is a slow EMA period;
• For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.