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Indicators

Corrected double smoothed Wilder's EMA (extended version) - indicator for MetaTrader 5

Views:
5396
Rating:
(10)
Published:
2019.01.14 15:07
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Theory :

This indicator is a "corrected" version (using dr. Alexander Uhl's method for correcting an average) of Wilder's double smoothed EMA

Also it is adding floating levels to the indicator. That way you have 4 choices for color changes :

  • change color when outer floating levels are crossed
  • change color when middle floating level (a sort of a "zero line") is crossed
  • change color on slope change
  • change color original to corrected value cross

Usage :

You can use color changes as signals


Corrected double smoothed Wilder's EMA Corrected double smoothed Wilder's EMA

Corrected double smoothed Wilder's EMA

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TRIX using Wilder's double smoothed EMA - with an addition of floating levels

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RSI with on chart SR levels RSI with on chart SR levels

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