Modified Indicator with Multiple Smoothing Algorithms
Info
The Modified Indicator with Multiple Smoothing Algorithms is a Indicator for MetaTrader 5 that this indicator is a modified variant of the standard indicator. It offers the possibility to change the smoothing algorithm by selecting one out of ten algorithms present: - Simple moving average - Exponential moving average - Smoothed moving average - Linear weighted moving average - JMA adaptive average - Ultralinear smoothing - Parabolic smoothing - Tillson's multiple exponential smoothing - Smoothing with the use of Tushar Chande's algorithm - Smoothing with the use of Perry Kaufman's algorithm.
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 Modified Indicator with Multiple Smoothing Algorithms
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 a modified variant of the standard indicator.
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: Previous Day High Low Open Close Indicator - another powerful indicator for MetaTrader 5 traders.
This indicator is a modified variant of the standard indicator. It offers the possibility to change the smoothing algorithm by selecting one out of ten algorithms present: - Simple moving average - Exponential moving average - Smoothed moving average - Linear weighted moving average - JMA adaptive average - Ultralinear smoothing - Parabolic smoothing - Tillson's multiple exponential smoothing - Smoothing with the use of Tushar Chande's algorithm - Smoothing with the use of Perry Kaufman's algorithm. It should be noted that the phase parameter has a completely different meaning for different smoothing algorithms. For JMA, it is an external phase variable changing from -100 to +100. For T3, it is a smoothing ratio multiplied by 100 for better visualization. For Vidya, it is a CMO period, for AMA it is a slow EMA period. For AMA, the fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA. It is quite natural that some smoothing variants require a different interpretation of the indicator signals. Oversold/overbought levels are indicated in a dynamically changing variant based on the indicator to provide more accurate work with them. The indicator uses smoothalgorithms.mqh library classes, which must be placed in the terminal_data_folder\mql5\include folder.Also recommended: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator - similar indicator with strong performance on MetaTrader 5.
You may also like: Session High-Low Indicator for MetaTrader - 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.