Corrected generalized double DE M A
Info
The Corrected generalized double DE M A is a Indicator for MetaTrader 5 that 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.
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 generalized double 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.
What this tool does
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.
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: Corrected Average (CA) - another powerful indicator for MetaTrader 5 traders.
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:
Also recommended: Corrected Average - similar indicator with strong performance on MetaTrader 5.
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 and double DEMA is calculated as GDEMA of GDEMA. It is an intermediate step between "simple GDEMA and T3 and, as such, is smoother than GDEMA, but less smooth than T3.
Is using the generalized double 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.
You may also like: Corrected Average HT F - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.