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Indicators

ColorStepXCCX - indicator for MetaTrader 5

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Views:
2882
Rating:
votes: 13
Published:
2011.12.12 11:35
Updated:
2016.11.22 07:32
\MQL5\Include\

Symmetrical normalized oscillator inspired by ideas from TrendLaboratory Ltd website.

The color depends on the current trend direction. The signals must be filtered using additional trend indicator (e.g., some type of the moving average).

Smoothing algorithm can be changed in this indicator:

  1. SMA - simple moving average;
  2. EMA - exponential moving average;
  3. SMMA - smoothed moving average;
  4. LWMA - linear weighted moving average;
  5. JJMA - JMA adaptive average;
  6. JurX - ultralinear smoothing;
  7. ParMA - parabolic smoothing;
  8. T3 - Tillson's multiple exponential smoothing;
  9. VIDYA - smoothing with the use of Tushar Chande's algorithm;
  10. AMA - smoothing with the use of Perry Kaufman's algorithm.

It should be noted that Phase parameter has completely different meaning for different smoothing algorithms.

  • For JMA it is an external Phase variable changing from -100 to +100.
  • For T3 it is a smoothing ratio multiplied by 100 for better visualization;
  • For VIDYA it is a CMO period, for AMA it is a slow EMA period;
  • For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Color StepXCCX


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/610

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