Deviation scaled MA levels
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 Deviation scaled MA levels
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 :
Making self adjusting levels is a method that in some cases "chooses" to do the full value calculation or just to "inherit" a previously calculated value. That implies that the basic method must have calculating method that is suitable for "inheritance". As it is normal, not all calculating methods are suitable for that. Deviation scaled moving average, as an offspring of ema (which is less known) , is suitable
We are using deviation scaled MA and self adjusting levels are added to it. That adds a sort of dynamic levels that are helping us to filter out some signals and to add "significant levels" to things that otherwise could not have those levels at all. All, (the main value, as well as the levels), are calculated as deviation scaled MA, hence, this is a full fledged deviation scaled ma indicator
Usage :
You can use the color changes as signals
