Sharp modified MA
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Sharp modified 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.
Description & Settings
Theory : In the TASC January 2000 article by Joe Sharp, "More Responsive Moving Averages." the article describes a modified moving average that greatly diminishes the lag that is typically associated with moving averages. With the formula described in the article, the moving average line is more responsive to changes in the price action.
Usage :
It can be used as any other moving average
PS:
A must know - even though the math of the "Sharp modified moving average" is a bit different from the linear regression value calculation, the values are the same. So, this, in fact, is another way of calculating the linear regression value. It was published here in order to avoid some confusion caused by a "new type" of moving average
