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.
Thank you for reading this post, don't forget to subscribe!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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[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
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