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Views:: 5560
Rating:: (16)
Published:: 2018.10.16 18:58
Updated:: 2019.01.29 15:16

Leader EMA.mq5 (7.53 KB) view

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Theory:

Giorgos E. Siligardos, as a part of the leader of the MACD indicator, constructed a kind of a new moving average which we can call "leader EMA" (he calls it "a kind of a Zero lag EMA"). This is that new average as a standalone indicator.

Usage:

This indicator has 2 "coloring modes":

color change on leader EMA slope change
color change on leader EMA to "regular" EMA cross

You can chose which mode you prefer better and then you can use color change as signal

PS: example for the coloring mode when leader EMA crosses regular EMA

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Leader EMA - indicator for MetaTrader 5