Damiani Volatmeter — Trade / No-Trade Filter (MT4)

Damiani Volatmeter compares market volatility to noise and shows a clear Trade / No‑Trade state. When the volatility line rises above the noise/threshold, conditions are tradable; when it falls below, better stand aside. Designed as a filter to pair with your entry system on MetaTrader 4.

What it shows

• Volatility vs Noise gauge with an explicit Trade/No‑Trade readout.
• Volatility line crossing threshold enables/blocks signals from your strategy.
• (Optional) MTF view or alerts on state change (if available).
• Works on all symbols and timeframes in MT4.

Trade ideas

1. Filter first: take strategy signals only when Trade = ON (volatility above threshold).
2. Session filter: skip dead sessions; use Damiani to avoid chop and false breakouts.
3. Stack with trend tools: combine with moving averages/ADX — require trend + Trade ON.
4. Risk scaling: reduce size when the gauge hovers near the threshold.

Inputs that matter

• Volatility period and Noise period (core calculation).
• Threshold/Sensitivity for switching between states.
• Smoothing (if present) to stabilize the readout.
• Alerts — Trade ON/OFF, crosses.

Suggested usage

• M5–M15: intraday filter against chop.
• M30–H4: regime gate before trend setups.
• Daily+: participation/volatility regime map.

Installation (MT4)

1. Open MetaTrader 4 → File → Open Data Folder.
2. Copy damiani_volatmeter.ex4 to MQL4/Indicators.
3. Restart MT4 (or refresh Navigator) and attach Damiani Volatmeter.
4. Adjust inputs → OK.

FAQ

Does it repaint? No on closed bars; it reacts to fresh volatility/noise.
Use in EAs? Yes, via iCustom.
Markets? FX, indices, metals, crypto — anything on MT4.

Disclaimer: Test on a demo account first; risk management is essential.