Name: MHL Average
Rating: 4.153846153846154 (26 reviews)
Author: Mladen Rakic

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Published by:

Mladen Rakic

Views:

5968

Rating:

(26)

Published:

2016.10.06 10:46

Updated:

2016.11.22 07:32

MHL_average_-_alertsl1v.mq5 (12.12 KB) view

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This is the " Middle-High-Low Moving Average" as described by Vitali Apirin. It is not a single average but rather a correlation of two averages : one being a regular average and the other is an average of highest high and lowest low. Their crosses are showing the current "trend". Used the default parameters proposed by Vitali Apirin — seems that they are rather OK, except by default he is using SMA while I decided to set EMA as the default average method, but I do recommend some experimenting with the parameters..

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/16516

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MHL Average - indicator for MetaTrader 5