Linearly Weighted Moving Average Indicator
Info
The Linearly Weighted Moving Average Indicator is a Indicator for MetaTrader 5 that this indicator is calculated using linearly weighted smoothing and simple smoothing methods. It uses the price series value and the current bar index to determine market trends.
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 Linearly Weighted Moving Average Indicator
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
This indicator is calculated using linearly weighted smoothing and simple smoothing methods.
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: Weighted WC CI Indicator - another powerful indicator for MetaTrader 5 traders.
This indicator is calculated using linearly weighted smoothing and simple smoothing methods. It uses the price series value and the current bar index to determine market trends. The indicator clearly shows market trends by dividing a price chart into two sectors. If a price is above the indicator line, the trend is going upwards. If a price is below the indicator line, the trend is going downwards. The indicator uses classes from the smoothalgorithms.mqh and indicatorsalgorithms.mqh libraries. These libraries must be placed in the terminal_data_folder\mql5\include directory. The calculation method is as follows: - lwma() - linearly weighted smoothing - sma() - simple smoothing - price[] - price series value - bar - current bar index. This indicator provides a clear visualization of market trends. It can be used to identify uptrends and downtrends.Also recommended: vw a p - volume weighted average price - similar indicator with strong performance on MetaTrader 5.
Indicator Details
- The indicator is based on linearly weighted smoothing and simple smoothing methods. - It uses the price series value and the current bar index to determine market trends. - The indicator line divides the price chart into two sectors. - The trend is going upwards if the price is above the indicator line. - The trend is going downwards if the price is below the indicator line. - The indicator uses classes from the smoothalgorithms.mqh and indicatorsalgorithms.mqh libraries. - The libraries must be placed in the terminal_data_folder\mql5\include directory.
You may also like: vw a p lite - volume weighted average price - excellent alternative for indicator users on MetaTrader 5.
Source Code
/*
* place the smoothalgorithms.mqh
and indicatorsalgorithms.mqh files to the
terminal_data_folder\mql5\include
*/
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 1.......
⚠ 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.