Imp_XMA - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Moving average wing average of a linear combination of input price time series.

Like any other indicator, moving averages can only be calculated based on 7 price constants. This modification of the Moving Average allows the indicator to be calculated based on any combination of the 4 main price types (Close, Open, High, Low). For this purpose, four coefficients are used as input parameters of the indicator:

Calculation formula of weight constant:

Price = (Close_coef*CLOSE + Open_coef *OPEN + High_coef*HIGH + Low_coef*LOW) / (Close_coef + Open_coef + Open_coef + High_coef + Low_coef );

The indicator uses the SmoothAlgorithms.mqh library class (copy it to <terminal data folder> \MQL5\include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

The original indicator was developed in MQL4 language and published in the code base on November 11, 2012.

Figure 1. Imp_XMA indicator

Attachment download

📎 Imp_XMA.mq5 (7.35 KB)

📎 smoothalgorithms.mqh (130.19 KB)

Source: MQL5 #11377