Corrected double smoothed Wilder's EM A (extended version)
Info
The Corrected double smoothed Wilder's EM A (extended version) is a Indicator for MetaTrader 5 that theory : also it is adding floating levels to the indicator. That way you have 4 choices for color changes :change color when outer floating levels are crossedchange color when middle floating level (a sort of a "zero line") is crossed change color on slope changechange color original to corrected value cross Usage : You can use color changes as signals.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Corrected double smoothed Wilder's EM A (extended version)
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
Theory : Also it is adding floating levels to the indicator.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Double Exponential Moving Average (DE M A) - another powerful indicator for MetaTrader 5 traders.
Theory :
Also it is adding floating levels to the indicator. That way you have 4 choices for color changes :
Also recommended: Corrected Average (CA) - similar indicator with strong performance on MetaTrader 5.
change color when outer floating levels are crossed
change color when middle floating level (a sort of a "zero line") is crossed
change color on slope change
change color original to corrected value cross
Usage :
You can use color changes as signals
⚠ 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.