Deviation Scaled Moving Average MACD
Info
The Deviation Scaled Moving Average MACD is a Indicator for MetaTrader 5 that deviation scaled moving average macd this indicator is based on the deviation scaled moving average, which was described in the july 2018 tasc article "the deviation-scaled moving average. " Since the Deviation Scaled Moving Average is a type of Exponential Moving Average adapted using Ehlers's "deviation scaling," a logical next step is to create a Moving Average Convergence Divergence (MACD) indicator using it.
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 Deviation Scaled Moving Average MACD
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
Deviation Scaled Moving Average MACD This indicator is based on the Deviation Scaled Moving Average, which was described in the July 2018 TASC article "The Deviation-Scaled Moving Average.
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: Session TWAP: Time-Weighted Average Price with Deviation Bands - another powerful indicator for MetaTrader 5 traders.
Deviation Scaled Moving Average MACD This indicator is based on the Deviation Scaled Moving Average, which was described in the July 2018 TASC article "The Deviation-Scaled Moving Average." Since the Deviation Scaled Moving Average is a type of Exponential Moving Average adapted using Ehlers's "deviation scaling," a logical next step is to create a Moving Average Convergence Divergence (MACD) indicator using it. This MACD utilizes a crossover of 40-period and 100-period Deviation Scaled Moving Averages, aligning with the parameters presented in the original article. Experimentation with shorter periods for the fast and slow Deviation Scaled Moving Averages is advised, as this can lead to unique results. The MACD presented here uses the described 40 and 100-period crossover.Also recommended: standard deviation (std dev) - similar indicator with strong performance on MetaTrader 5.
You may also like: Mean Deviation Index (MDI) by William Blau - Enhanced MT5 Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ 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.