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2011.07.08 12:56
Indicators

Ergodic MACD Oscillator Blau_Ergodic_MACD - indicator for MetaTrader 5

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\MQL5\Include\

Author: Andrey N. Bolkonsky

Ergodic MACD Oscillator by William Blau is described in the book "Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis".

  • WilliamBlau.mqh must be placed in terminal_data_folder\MQL5\Include\
  • Blau_Ergodic_MACD.mq5 must be placed in terminal_data_folder\MQL5\Indicators\

Erogdic MACD Oscillator by William Blau

Erogdic MACD Oscillator by William Blau

Calculation:

Ergodic MACD Oscillator is defined as follows:

Ergodic_MACD(price,r,s,u) = MACD(price,r,s,u)
SignalLine(price,r,s,u,ul) = EMA( Ergodic_MACD(price,r,s,u) ,ul)

where:

  • Ergodic_MACD() - Ergodic - MACD(price,r,s,u);
  • SignalLine() - Signal Line - exponentially smoothed moving average EMA(ul), applied to MACD;

In contrast with the standard MACD indicator (it uses the simple moving average), the exponentially smoothed moving average is used in the approach, proposed by William Blau.

Input parameters:
  • graphic plot #0 - Ergodic (moving average convergence/divergence):
    • r - period of the 1st EMA (slow), applied to price (by default r=20);
    • s - period of the 2nd EMA (fast), applied to price (by default s=5)
    • u - period of the 3rd EMA, applied to MACD (by default u=3);
  • graphic plot #1 - Signal Line:
    • ul - smoothing period (signal line), applied to Ergodic (by default ul=3);
  • AppliedPrice - price type (by default AppliedPrice=PRICE_CLOSE).
Note:
  • r>1, s>1;
  • s<r (according to William Blau, there isn't any checks in the code);
  • u>0. If u=1, smoothing is not used;
  • ul>0. If ul=1, the signal and ergodic lines are the same;
  • Min. rates =([max(r,s)]+u+ul-3+1).

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/376

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