Double Smoothed EMA - MetaTrader 5 Script - MQL5 #20440 - MT4/MT5 Resources
Lee Leibfarth, in his article "Trading with Adaptive Price Zones", uses an interesting variation of EMA.
Although the author of this article does not use this name, we will use "Double Smoothed EMA" due to the nature of how the indicator is calculated. Unlike similar attempts to smooth existing indicators, this indicator does not lag compared to the "regular" EMA. Quite the contrary: although it is significantly smoother, it still comes out on top when we compare it to the "regular" EMA. Therefore, whenever a filter/average requires smoothness and speed of reaction to market changes, Double Smoothed EMA is a good choice for the job.
Attachment download
📎double_smoothed_ema.mq5 (7.09 KB)
Source: MQL5 #20440
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