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

The indicator is calculating averages of 4 basic types, with the option of "corrected" averages as well.

Although Dr.Uhl's method looks like an adaptive EMA at first glance, due to the way it corrects values, when corrections are inactive (at times of high volatility) it tends to give results very, very close to the original values. Therefore it is suitable for use over a wide range of values ​​(not just the average) without significant loss of the original value, but in this case the average is used.

These 4 moving averages are the usual 5 basic moving average types. The expansion of this indicator mainly lies in the way it is calculated and how it determines trends.

This indicator has floating levels (in order to add implicit conversion to a kind of oscillator and to make trend determination easier). Color (and trend status) changes can be determined based on:

The rest are common options (multiple timeframes and alerts), which are clearly explained in the parameters, so they shouldn't be difficult to use.

Example of "bigger appearance" usage for the above example

Attachment download

📎 corr_average.mq5 (40.36 KB)

Source: MQL5 #17233