Smoothed Kijun-Sen - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources

Kijun-Sen is a major indicator line and a component of the Ichimoku Kinko Hyo indicator (also known as the Ichimoku Cloud). It is often used as an indicator of medium-term momentum. Kijun-Sen line calculations use the following formula:

The formula used to calculate Kijun-Sen is almost the same as the formula used to calculate the Tenkan-Sen line. The difference is that the number of time periods used in the calculation is increased, allowing a more effective measure of long-term momentum.

This version of Kijun-Sen adds an option unknown in the original Kijun-Sen indicator - Smoothing. Smoothing is done not by smoothing the result, but by smoothing the price before being used in the calculation. As a result, latency is reduced and the results are still smoother. In this way, some possible false signals are filtered out.

PS: In order to get the original Kijun-Sen value, please set the smoothing period to less than or equal to 1. At this time, no smoothing is performed and the values ​​are the same as the original Kijun-Sen values.

Attachment download

📎 smoothed_kijun-sen.mq5 (14.55 KB)

Source: MQL5 #19946