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.
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...
This indicator throws visual and verbose buy/sell signals according to Bill Williams Trading in the Zone methodology and Alligator.Clear Method
This indicator is based on the article: Getting Clear With Short-Term Swings by Ron Black
This EA doesn't open orders, it takes PICTURES every time you (or another EA) opens or closes an order.MMPRO - Dottor Market
Trade with right risk !