Description
Indicator 3rd Generation Moving Average MT4 Moving Average (МА) indicator uses quite simple procedure of time lag decrease, based on increasing Moving Average time frame. This method was first described by Manfred Dürschner in his article Gleitende Durchschnitte 3.0.
The implementation shown here uses λ = 2, that makes the best impact on decreasing time lag. Bigger λ makes this method more similar to classic Moving Average.
There is still little lag and it can cause false signals. This indicator can be used as standard MA to determine current trend direction.
Input parameters:
MA_Period (by default = 50) — obtained 3rd Generation Moving Average period.
MA_Method (by default = 1) — Moving Average method (0 — SMA, 1 — EMA, 2 — SMMA, 3 — LWMA).
MA_Applied_Price (by default = 5) — price type for Moving Average calculation (0 — PRICE_CLOSE, 1 — PRICE_OPEN, 2 — PRICE_HIGH, 3 — PRICE_LOW, 4 — PRICE_MEDIAN, 5 — PRICE_TYPICAL, 6 — PRICE_WEIGHTED).
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