MoT - [Analyst] - Mean Deviation Index


The MDX tracks mean deviation that is greater the average true range specified in the settings. Highly customisable.


AUDNZD on the 4HR Time Frame


- In the Top Panel we have our Force Ticks which when used in context with other Technical Analysis tools can show you what Smart Money is doing.

- On the chart we have our ATR-filtered Exponential Moving Average . It either plots further away from price or closer to price, the higher or lower the current ATR is compared to recent history.

- Also on the Chart we have our Sessions Indicator which allows you to add backgrounds for certain Trading Sessions so you can have a good gauge what Session is driving the MArket.

- In the Bottom Panel we have this indicator, the Mean Deviation Index which tracks mean deviation that is greater the average true range .


Many Thanks and Trade Safe!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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