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6420

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Published:

2016.07.20 14:42

Updated:

2016.11.22 07:32

volume_weighted_ma.mq5 (8.58 KB) view

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Real author:

StatBars TO

The idea of this moving average indicator is in giving the bar with a greater volume a greater weight in averaging. The volumes are summed for the 'Length' period, then the volume of each bar is divided by the sum — this is the weight of each bar.

Products of each price and weight of each price are summed in the final formula.

Originally this indicator has been written in MQL4 and was first published in the Code Base on 14.06.2016.

Fig.1. The Volume_Weighted_MA indicator

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/15836

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Volume_Weighted_MA - indicator for MetaTrader 5