Author: Andrey N. Bolkonsky
The Ergodic MDI (Mean Deviation Index, MDI) is the double-smoothed Mean Deviation Index (see Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis).
The mean deviation is defined as a distance between close price and exponentially smoothed moving average, applied to close price.
Mean Deviation Index by William Blau
The mean deviation is calculated by formula:
md(price,r) = price - EMA(price,r)
Mean Deviation Index is calculated by formula:
MDI(price,r,s,u) = EMA(EMA( md(price,r) ,s),u) = EMA(EMA( price-EMA(price,r) ,s),u)
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/373
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