But first about "Jurik": what we have here is better than the original (response in the times of sudden price changes is better than the original Jurik - I think I wrote a post about how it was done (the improvement) so I rather call it simply "smooth" since the original calculation is changed by a lot). It is very good at very sharp value changes and in that part is better than OMA
OMA on the other hand is so adaptive that it is like a chameleon - it can act like almost all averages I have ever seen. At the times of very sharp changes of value it is a bit smoother than the "Jurik" but it does not overshoot, so even in those times it tends to be a bit more of use.
Thanks for your opinion, it helps. Cheers.
Can you create a histogram version of the OMA in multitimeframe?
Further, on page one, I see you have ATR bands for OMA, will you also alter that to be in multitimeframe?
Please help, thank you!
Here's OMA ATR Bands non lag MTF + arrows, it was already posted somewhere on this forum, I modded looks a bit as well as shortname in indicator window. See screenshot below.
Regarding a histogram version of OMA, how would that look like? What's your objective?
Do you want to show distance between price and OMA perhaps?
When you have some time, can we look at this idea: make the bands of oma-envelopes based on atr?
At current indicator, the bands are 'fixed' according to settings in the indicator.
I'd like to keep those settings, but I'd love to see what happens if the bands would be widened/narrowed by ATR.
Hope this makes sense.
Here you go. Use AtrPeriod and Atr multipliers for bands
Updated version compatible with the new metatrader 4 posted here https://www.mql5.com/en/forum/179662
Thanks mladen...excellent and amazingly fast...!
Tried it myself but got caught up in the code, will see how you did it for learning purposes.
Have a great weekend, San
Check out this one, just using oma, looks very smooth and fast, especially on multitimeframe, also added alerts on slope or zero line cross and arrows the same way.
Hi Mr. Tools or Mladen, could you consider creating a QQE indicator out of the OMA indicator above? Please, thanks for your consideration!!
One more average RSI ...
This is an indicator similar to averages RSI except that this one uses One more average for the purpose of calculation. Apart from bringing smoothness to the rsi value, due to the adaptive ability of one more average, it maintains fast response even for low "Speed" values of one more average
As an example - orange is one more average RSI and green is same period RSI (from the example one more thing becomes obvious - this indicator is not an oma smoothed RSI, but a different way of internal rsi calculation) :
One more average QQE
Try out this one
Some words of explanation : since the basis of QQE indicator is RSI, it seemed appropriate to make an QQE using the latest one more average rsi. So, this one does not use "classical" rsi in calculation but instead oma rsi.
This is the result of it (unlike the "classical" one due to adaptive nature of one more average it seems that t is better to use longer rsi periods of this QQE) :
Hi Mladen, think you could possibly add multitimeframe to this? Thanks so much!!