Smoothed Moving Average Indicator
Info
The Smoothed Moving Average Indicator is a Indicator for MetaTrader 5 that this indicator calculates four moving averages based on the averaged values of the open, low, high, and close prices of a candlestick chart. The indicator utilizes smoothing algorithms from the smoothalgorithms.
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 Smoothed 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 calculates four moving averages based on the averaged values of the open, low, high, and close prices of a candlestick chart.
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: Relative Moving Average (RMA) Indicator for MT5 - another powerful indicator for MetaTrader 5 traders.
This indicator calculates four moving averages based on the averaged values of the open, low, high, and close prices of a candlestick chart.Also recommended: AIS Smoothed Linear Trend Indicator - similar indicator with strong performance on MetaTrader 5.
The indicator utilizes smoothing algorithms from the smoothalgorithms.mqh library. Ensure this library is copied to your terminal_data_folder\mql5\include directory.The principles of using these classes were extensively detailed in the associated article.
This indicator was originally developed in MQL4 and was first released on November 5, 2026.
Indicator Visualization
The visual representation of the indicator demonstrates its smoothing capabilities across price action.
You may also like: multi-timeframe moving average indicator (v03) - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_plots 4
#define reset 0 // a constant for returning the indicator recalculation command to the terminal
#define indicator_name "smoothcandles" // a constant for the indicator name
#property indicator_type1 draw_line.......
⚠ 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.