Third Generation Moving Average
Info
The Third Generation Moving Average is a Indicator for MetaTrader 4 that this indicator represents the third generation moving average. It aims to provide a faster reaction to price changes compared to conventional Exponential Moving Averages.
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 Third Generation Moving Average
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
This indicator represents the Third Generation Moving Average.
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: 3rd generation moving average mt4 - another powerful indicator for MetaTrader 4 traders.
This indicator represents the Third Generation Moving Average. It aims to provide a faster reaction to price changes compared to conventional Exponential Moving Averages.Also recommended: BBSqueeze Indicator for MT4/MT5 - similar indicator with strong performance on MetaTrader 4.
Input Parameters:
ma_period (default = 50) — The period used for calculating the Third Generation Moving Average.
ma_method (default = 1) — Specifies the method for calculating the moving average. Options include: 0 — Simple Moving Average (SMA), 1 — Exponential Moving Average (EMA), 2 — Smoothed Moving Average (SMMA), 3 — Linearly Weighted Moving Average (LWMA).
ma_applied_price (default = 5) — The price type used for the moving average calculation. Options include: 0 — Close Price, 1 — Open Price, 2 — High Price, 3 — Low Price, 4 — Median Price, 5 — Typical Price, 6 — Weighted Close.
The Third Generation Moving Average (indicated in red) exhibits reduced lag and quicker responsiveness to price fluctuations when contrasted with a standard EMA (indicated in blue). However, it may still experience some delay and potentially generate false signals.
This indicator can be utilized in the same manner as a typical moving average, primarily for identifying the direction of the prevailing trend.
You may also like: power of nz d - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
/*
3rd generation ma based on research paper by dr. mafred durschner:
http://www.vtad.de/node/1441 (in german)
offers least possible lag but still provides price smoothing
*/
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 red .......
⚠ 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.