This indicator computes the median of odd span. The median is described as the numerical value separating the higher half of a sample, or a probability distribution, from the lower half. It is often considered as one of the most robust smoothing operator in the presence of outlier values, and particularly more robust than the mean.Thank you for reading this post, don't forget to subscribe!
Calculation of medians is a popular technique in summary statistics and summarizing statistical data. A very nice property of the median is that the distance between the median and the mean is bounded by one standard deviation. The median is also a non-lagging operator.
The paradox is that it is almost impossible to find the median indicator in trading softwares. Moreover, straightforward implementations rely on array sorts, which is a very slow operation that does not scale up to long timeseries.
I therefore designed this running median operator which is incremental and therefore very fast. It is under the GNU public license.
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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Running Median Indicator for MT4