Double smoothed Wilders EM A
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. 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 Double smoothed Wilders EM A
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 :
Welles Wilder was frequently using one "special" case of EMA (Exponential Moving Average) that is due to that fact (that he used it) sometimes called Wilder's EMA. The difference from EMA is the following :
EMA formula = price today * K + EMA yesterday * (1-K) where K = 2 / (N+1)
Wilder EMA formula = price today * K + EMA yesterday (1-K) where K =1/N
Where N = the number of periods.
Usage :
It can be used as any regular moving average
PS:
A comparison of DS Wilder's EMA (colored line) and SMMA (gray line)
