The standard indicator Moving Average is calculated on the basis of 7 price constants only. This modification allows defining Moving Average on the basis of any combination of 4 basic prices: Close, Open, High, and Low.
- TimeFrame - timeframe to display the indicator;
- Period - averaging period for calculation;
- Shift - shift of the indicator relative to the chart;
- Moving average mode - averaging method: Simple (SMA), Exponential (EMA), Smoothed (SMMA), Linear Weighted (LWMA), Double Exponential (DEMA), Triple Exponential (TEMA).
- Close - weight coefficient of the CLOSE price for calculation of the individual price;
- Open - weight coefficient of the OPEN price for calculation of the individual price;
- High - weight coefficient of the HIGH price for calculation of the individual price;
- Low - weight coefficient of the LOW price for calculation of the individual price.
Example 1. Calculate indicator by OPEN price: Close=0, Open=1, High=0, Low=0.
Example 2. Calculate indicator by WEIGHTED price: Close=2, Open=0, High=1, Low=1.
Example 3. Calculate indicator by individual price constant: Close=6, Open=7, High=1, Low=3. Price=(6*Close + 7*Open + 1*High + 3*Low)/17.