Trend state Geometrical Mean
The indicator draws the colored weighted moving geometrical mean in the price chart window. Besides, this indicator can be used for colored drawing of other indicators that do not have this feature as a default one. "Trend state Geometrical Mean" can be drawn using other indicator values but in this case, all values of this indicator should be greater than zero.
- Averaging period – indicator averaging period.
- First weight – weight of the first (earliest) averaging period values.
- Weight incrementation – incrementation of the averaged values' weight.
- Vertical shift – vertical shift of the indicator in points.
- Horizontal shift – horizontal shift of the indicator in bars.
"Averaging period" parameter should be greater than zero. In addition, the following ratio between parameter values should be true:
- FW – "First weight" parameter value.
- WI – "Weight incrementation" parameter value.
- AP – "Averaging period" parameter value.
- "!=" – "Not equal" ratio.
No limits are imposed on "Vertical shift" and "Horizontal shift" parameter values.
Examples of Settings:
- In order to draw standard moving geometrical mean, set "First weight" parameter to one, while "Weight incrementation" should be equal to zero.
- Perform the following actions to draw the values of another indicator in color:
- Select the indicator you wish to display in color. Let's take "Adaptive Moving Average" from the standard terminal set as an example. This indicator currently has no built-in means to display its values in different colors (screenshot 6).
- After setting the parameters, set drawing color to "None" (screenshot 7) and click "OK".
- Launch "Trend state Geometrical Mean", set "Averaging period" and "First weight" parameters to one and "Weight incrementation" parameter to zero (screenshot 8). "Vertical shift" and "Horizontal shift" parameters can be set according to your own preferences.
- After that, move to Parameters tab of the indicator setting window and select "Previous Indicator's Data" value in "Apply to:" field (screenshot 9).
- Set the necessary drawing style and color on Colors tab (the first color for ascending values, the second one - for descending ones) (screenshot 10).
- Click "OK" to receive the values of the selected indicator having different colors (screenshot 11)!