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2013.05.31 11:11
Indicators

Imp_MA - indicator for MetaTrader 4

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Imp_MA.mq4 (9.65 KB)view

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

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/10861

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