Improved Moving Average (IMP MA)
Info
The Improved Moving Average (IMP MA) is a Indicator for MetaTrader 4 that the moving average (ma) is a widely used technical analysis tool, and this indicator proposes a modification to enhance its versatility. By utilizing a unique approach, the IMP MA allows traders to calculate the moving average based on any combination of the 4 basic price components: close, open, high, and low.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Improved Moving Average (IMP MA)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The moving average (MA) is a widely used technical analysis tool, and this indicator proposes a modification to enhance its versatility.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Zero Lag Moving Average - another powerful indicator for MetaTrader 4 traders.
The moving average (MA) is a widely used technical analysis tool, and this indicator proposes a modification to enhance its versatility.Also recommended: dynamic moving average - similar indicator with strong performance on MetaTrader 4.
By utilizing a unique approach, the IMP MA allows traders to calculate the moving average based on any combination of the 4 basic price components: close, open, high, and low.
Input Parameters
- ma_period: The period for MA calculation.
- ma_shift: Shifts the MA line relative to the chart.
- ma_method: Selects the averaging method (0 - SMA, 1 - EMA, 2 - SMMA, 3 - LWMA).
- close_coef: Coefficient for close price in the individual price calculation.
- open_coef: Coefficient for open price in the individual price calculation.
- high_coef: Coefficient for high price in the individual price calculation.
- low_coef: Coefficient for low price in the individual price calculation.
Examples
- To calculate the MA based solely on the open price, set close_coef = 0, open_coef = 1, high_coef = 0, and low_coef = 0.
- For a weighted MA, use close_coef = 2, open_coef = 0, high_coef = 1, and low_coef = 1.
- To calculate the MA using a specific price constant, set close_coef = 0, open_coef = 7, high_coef = 25, and low_coef = 80. The individual price is then calculated as (7*open + 25*high + 80*low)/112.
This indicator provides traders with the flexibility to experiment with various combinations of price components when drawing moving averages. If a coefficient is set to zero or below, the corresponding price will not be considered in the individual price constant calculation.
Indicator: IMP MA
You may also like: moving average of oscillator (osma) - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_color1 lime
extern int ma_period=14;
extern int ma_shift=0;
extern int ma_method=0;
extern int close_coef=1;
extern int open_coef=0;
extern int high_coef=0;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.