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Indicators

Double smoothed EMA - floating levels (multi time frame) - indicator for MetaTrader 5

Mladen Rakic

Views:
671
Rating:
votes: 6
Published:
2019.02.07 15:50

Theory :

Detailed description of the double smoothed EMA was posted here : Double Smoothed EMA. This version is upgrading that code and is  adding multi time frame options. Multi time frames are having, apart from all the standard multi time frames that can be used in metatrader 5, 3 additional "time frames" :

  • first higher time frame (first time frame higher than the current chart time frame)
  • second higher time frame (second time frame higher than the current chart time frame)
  • third higher time frame (third time frame higher than the current chart time frame)
It is also adding floating levels. In the options for floating levels you can chose coloring based on :
  • outer levels cross (default)
  • middle level cross
  • based on slope change

Usage :

You can use color changes as signals


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