Corrected generalized DE M A
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 Corrected generalized DE M 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:
The double exponential moving average (DEMA), was developed by Patrick Mulloy in an attempt to reduce the amount of lag time found in traditional moving averages. It was first introduced in the February 1994 issue of the magazine Technical Analysis of Stocks & Commodities in Mulloy's article "Smoothing Data with Faster Moving Averages.". The way to calculate is the following:
The DEMA (Double Exponential Moving Average) calculations are based combinations of a single EMA and double EMA into a new EMA:1. Calculate EMA2. Calculate Smoothed EMA by applying EMA with the same period to the EMA calculated in the first step3. Calculate DEMADEMA =
2
* EMA -
1
* (Smoothed EMA)
"Generalized" DEMA was developed further by replacing the 2* and 1* parts with "volume factors" and thus adjusting the "speed" of the result.
Is using the generalized DEMA and is applying the "correcting" method invented by dr. Alexander Uhl to produce a new "corrected" generalized DEMA. It also has floating levels for easier trend determination. Coloring methods supported are the following:
color change on slope change
color change on outer (floating) levels cross
color change on middle (floating) level cross
color change on average (GDEMA) value cross
Usage:
Depending on the choice of color change, you can use the color change as signal.
