The PipTick Effort Index indicator is based on the work of a spread trader
Karthik Marar (Karthik Marar). The indicator compares the price change
(result) with volume (effort) for a certain period of time. By comparing the
result with the effort, we can get more information about the future
price movement. Both values are normalized and converted to a scale from 0
to 100% based on the selected history period.

The law of effort and result

According to the law, the change in the price of a trading asset is the result of an
effort expressed by the volume level. The harmony between the effort and the
result contributes to the further movement of the price, while the
lack of harmony contributes to a change in direction.

• The indicator compares price changes (result) and volume (effort)
• It works on any timeframe (M1, M5, M15, M30, H1, H4, D1, W1 and MN)
• Ready for testing on the history (configurable parameter Sessions_Back)
• Customizable parameters (colors, line width, etc.)
• Very fast calculations
• Available for MetaTrader 4 and MetaTrader 5

• Volume_Method – real or tick volume
• Effort_Index_Period – indicator period
• MA_Method – choose between SMA, SMMA, LWMA and EMA
• MA_Period – the calculation period of MA
• Line_Thickness – the width of the lines
• Histogram_Thickness – the width of the histogram
• Color_Average – the color of the average histogram
• Color_Result – the color of the price histogram change
• Color_Effort – color of the histogram volume

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• Result – the value of the price histogram change
• MA_Result – the value of the average price change
• Effort – the value of the volume histogram
• MA_Effort – the value of the average volume

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