PowMA is a generalized power Moving Average. It allows calculating much "faster" mean lines than LWMA and to fine-tune line sensitivity to historical data.
- PERIOD - period used for the calculation;
- POW - index of power;
- APPLIED PRICE - selected price.
The line has the following properties:
- at POW=0 completely matches the SMA for the same period;
- at POW=1 - matches the LWMA;
- at POW=3 - the line goes to the nearer Bollinger Bands line with a deviation of 1;
- the greater the value of POW, the more sensitive the line to the "new data" and the closer to the price;
- the negative values of POW makes the line more sensitive to the historical data and brings it closer to the price of a period before;
- at POW=-3 - the line goes to the further Bollinger Bands line with a deviation of 1.
Use the PowMA line instead of SMA or LWMA and adjust the sensitivity of the lines. Use the PowMA with a negative POW instead of shifted Moving Averages.
This is a free demo version limited by timeframes lower than H1.
The full version can be found here.