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Inverse Distance Weighted Moving Average (IDWma)

Table of Contents

This multi-timeframe capable moving average discounts prices far from the average. It is smoother than SMA but follows price similar to an EMA of the same length.

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I came across en.wikipedia.org/wiki/Distance-weighted_estimator, thought it might be useful and coded it.

It does have some overshoot and initial lag just like SMA, but converges to nearer to price than the corresponding EMA. The initial lag may be useful in a trailing stop and when the market has reversed direction.

There are four (4) parameters, the first three are the same as the standard moving average

extern int MA_Period = 14; // Default Moving Average
extern int MA_Shift  =  0; // Default Moving Average
extern int MA_Price  =  0; // PRICE_CLOSE=0, Open=1, High=2, Low=3, median=4, typical=5, weighter=6
extern int MA_TF     =  0; // Chart=0, PERIOD_H1...

 

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Inverse Distance Weighted Moving Average (IDWma)

MT4 Indicators – Download Instructions

[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.

[post-title] provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

How to install [post-title].mq4?

  • Download [post-title].mq4
  • Copy [post-title].mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
  • Right click on [post-title].mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator [post-title].mq4 is available on your Chart
  •  

How to remove [post-title].mq4 from your Metatrader 4 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete
 

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