Imp_MA - indicator for MetaTrader 4

Moving average, as well as any other indicator, may be calculated on the basis of 7 price constants only. The proposed modification of moving average will allow to calculate the indicator on the basis of any combination of 4 basic prices (close, open, high, low).

Input parameters:

• MA_Period - period for calculation of indicator,
• MA_Shift - indicator's shift related to the chart,
• MA_Method - method of averaging (0 - SMA, 1 - EMA, 2 - SMMA, 3 - LWMA),
• Close_coef - coefficient of the use of CLOSE in individual price,
• Open_coef - coefficient of the use of OPEN in individual price,
• High_coef - coefficient of the use of HIGH in individual price,
• Low_coef - coefficient of the use of LOW in individual price.

Examples:

• Calculate indicator by OPEN price: Close_coef = 0, Open_coef = 1, High_coef = 0, Low_coef = 0.
• Calculate indicator by WEIGHTED price: Close_coef = 2, Open_coef = 0, High_coef = 1, Low_coef = 1.
• Calculate indicator by individual price constant: Close_coef = 0, Open_coef = 7, High_coef = 25, Low_coef = 80. Price = (7*Open + 25*High + 80*Low)/112.

So, the trader may draw moving average by any combination of 4 basic prices. In case if coefficient will be balow or equel zero, the appropriate price will not be used for calculation of individual price constant.

Indicator Imp_MA