Market mode - indicator for MetaTrader 5
Theory :
John Ehlers uses bandpass filter (originally published here : Bandpass Filter) to calculate what can be called a "market mode". The method used for that is to calculate an average of peaks and valleys and if the bandpass filter is above or bellow those levels, the market mode is determined with relative position to those levels
Usage :
You can use the color change as signals
Download link :Market mode
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