EM A variation
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 EM A variation
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 :
Exponential moving average (EMA) is one of the most used ways of smoothing / filtering data. By its nature it is a first-order infinite impulse response filter that applies weighting factors which decrease exponentially. The weighting for each older data decreases exponentially, never reaching zero. Because of one characteristic that is less know (it depends only on a previous data - no older data needed for calculation) it is perfect for all sorts of adjustments / combinations / variations (most of the adaptive averages are calculated using some sort of ema)
It is doing 2 things :
it is adding "speed" (the higher the "speed" the "faster" the ema - without changing the ema period). Speed can be set as fractional value
it is adding implicit smoothing - hence the same period ema is less smooth that this indicator even when they are producing similar values (the values can never be exactly the same)
Usage :
You can use it as any average type indicator
Comparison of this indicator ("speed" set to 1.8 which produces results similar to "regular" ema) and regular ema (gray line). As it can be seen, the slope of this one is smoother
