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Published:

2018.08.23 13:32

KDJ_Averages.mq5 (14.9 KB) view

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KDJ Averages oscillator defines when it is necessary to search for market entry conditions. Unlike KDJ, it is calculated using standard smoothing methods. In case of the default settings, its J line is slightly faster.

It has six input parameters:

KDJ period - KDJ indicator calculation period;
K period - K line calculation period;
K method - K line calculation method;
D period - D line calculation period;
D method - D line calculation method;
Threshold - signal line.

Calculation:

K = MA(RSV, KPeriod, KMethod)
D = MA(K, DPeriod, DMethod)
J = 3.0*D - 2.0*K

where:

RSV = ((Close – Lowest Low) / (Highest high – Lowest low)) * 100

Lowest Low, Highest High - the lowest and highest prices within the Period interval.

Possible interpretation options: J line crossing the Threshold level. Up - search the possibility for selling, down - search for the appropriate moment to buy.

After J line crosses the Threshold level, wait till J line is crossed by K and D lines. Crossing direction = market entry direction.

Fig. 1. KDJ Averages

Fig. 2. KDJ Averages compared with KDJ

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21531

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KDJ_Averages - indicator for MetaTrader 5