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2011.10.28 17:04
Indicators

Cronex Super Position - indicator for MetaTrader 5

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Published by:
Nikolay Kositsin
Views:
4386
Rating:
votes: 25
\MQL5\Include\

Real author:

Cronex

Superposition of RSI and DeMarker technical indicators.

As a rule, it takes too much time to switch between the periods and the indicator parameters to compare the behaviour and reveal the genuine dynamics of the indicators.

This indicator was created after the working space of the terminal was completely filled by a set of standard indicators having various parameters.

The things that are calculated:

  • Four RSI lines with different periods (the interval changing period is specified in the indicator parameters) form the average weighted indicator part according to RSI;
  • Four DeMarker lines with different periods (the interval changing period is specified in the indicator parameters) form the average weighted indicator part according to DeMarker;
  • Indications of the averages are reduced to a unified display system because of the difference between RSI and DeMarker indicators;
  • Superposition concerning these two indicators is based on the average built from RSI and DeMarker;
  • To ease the interpretation two MA are put on a superposition line;
  • The histogram of the difference between RSI and DeMarker weighted averages is shown to make the picture complete.

As a result, we managed to gather two characteristics of different period and dynamics. It is widely known that RSI and DeMarker behave differently in case of uncertain situations on a chart and also relative to themselves in case of the indicators various periods. Therefore, I think, it is quite useful to see this difference.

The indicator uses the СMoving_Average class of the SmoothAlgorithms.mqh library. Working with that class was described in details in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

This indicator was first implemented in MQL4 and published in CodeBase 14.01.2008.

Cronex Super Position indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/515

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