Range weighted average MA C D
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Range weighted average MA C D
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:
Strictly speaking MACD is a (as defined by Gerald Appel, who invented it) difference of fast and slow EMA and then a signal line (which is also EMA) is calculated for such a difference.
This indicator is not using EMA for MACD calculation but is using range weighted average (published here : with some more explanation) and is using range weighted average for signal line too (making it a sort of "all range weighted average" MACD).
Usage:
You can use it in all the usual ways how MACD indicators are used, Color changes added on MACD to signal line crosses and OSMA is displayed as a filled zone in order to facilitate the reading of the MACD.
