Custom Simple Moving Average - indicator for MetaTrader 5

Custom Average

CustomAverage is a self-contained, non-repainting trend indicator built around a double-averaging idea: a fast base average is computed directly from price, and a second, independent smoothing stage is then applied on top of it. The result is a single adaptive line that reacts to price faster than a single long-period moving average, yet stays noticeably calmer than a single short-period one.

The idea behind it

A plain moving average forces a compromise between responsiveness and noise: shorten the period and it hugs price but whipsaws in ranges; lengthen it and it lags every real turn. CustomAverage avoids that single trade-off by splitting the job into two independent filters:

• Stage 1 - Base average. A moving average (SMA, EMA, SMMA, or LWMA, selectable) is applied to the chosen price series (close, open, median, typical, weighted, etc.). This stage does the primary trend-following work.
• Stage 2 - Smoothing. A second moving average (again, any of the four classic methods) is applied on top of the Stage 1 result rather than on raw price. Because it is filtering an already-averaged series, a comparatively short smoothing period is enough to shave off residual jitter without adding much extra lag.

Every value is calculated once, from left to right, strictly from bars that are already closed relative to the bar being processed - the indicator never looks into the future and never repaints historical values. On each new tick the code recalculates only the bars that changed (rates_total / prev_calculated), so it stays light even on deep history and low timeframes.

How to interpret it

• The main line is the final, twice-averaged value. It changes color depending on its own slope: one color while the line is rising bar-to-bar, another while it is falling - so the trend direction is visible at a glance without a separate oscillator.
• A bullish arrow is plotted under the bar where price closes back above the average after having closed below it on the previous bar - a simple, classic price/average crossover long signal.
• A bearish arrow is plotted above the bar where price closes back below the average after having closed above it on the previous bar - the mirrored short signal.
• A small text label in the corner of the chart shows the current numeric value of the average, refreshed on every calculation.
• The indicator does not generate trading recommendations by itself - treat the line as a dynamic support/resistance/trend filter and the arrows as timing markers to combine with your own entry, exit, and risk rules.

Fig. 1. CustomAverage plotted on a price chart (black & white, per Code Base image guidelines).

External variables (inputs)

Recommended use

• Works on any symbol and any timeframe; it is a pure price-derived indicator and places no requirements on the account type (works identically on netting and hedging accounts, real or demo).
• The default 14/EMA base with a 5/SMMA smoothing stage is a balanced starting point for H1-H4 charts. For faster intraday charts (M1-M15) consider shortening both periods; for swing or position trading on D1-W1, lengthening InpMAPeriod will reduce sensitivity to noise.
• Setting InpSmoothPeriod to 0 or 1 turns the indicator into a conventional single-stage moving average, useful for comparing the effect of the second filtering stage directly on the same chart.
• As with any moving-average-based tool, the line lags price by construction and works best as a trend filter or dynamic support/resistance reference rather than as a stand-alone entry signal; combine the crossover arrows with a broader trading plan (structure, volatility, risk management) rather than trading them in isolation.
• The indicator plots on the main chart window and creates one chart label object, which it removes automatically on deinitialization (timeframe change, indicator removal, template reload, etc.), so it leaves no orphaned chart objects behind.