Var Mov Avg 2016 (varmov) - MetaTrader 4 Script - MT4/MT5 Resources

Thanks to the authors GOODMAN and Mstera и AF for providing the previous version of "Var Mov Avg3" (2004). I (Dmitry Migunov) optimized, accelerated and improved the script. I also added signal points (yellow by default) on the chart.

This indicator is based on moving averages, but it does not use any standard MT4/MT5 moving average indicators. It uses its own formula to calculate a moving average through a complex noise filter to produce a more accurate signal. This indicator displays a dotted line directly above the price curve in the main chart window. Changes in point color indicate changes in trend. The indicator displays signals on the chart (yellow dots above/below the price by default) and can also emit audible alerts about trend changes; you can turn them on and off.

When the dot is pink, the price is in a downtrend. When the dot is blue, the price is in an uptrend. Buy when pink turns to blue and sell when blue turns to pink. These moments are marked with yellow dots. If the yellow dot is above the price, this is a sell signal. If the yellow dot is below the price, this is a buy signal. Use a modest stop loss to protect yourself from false signals.

Update October 20, 2016: Now you can change the maximum offset of the signal point relative to the current price. Change the " Offset Points " parameter.

Attachment download

📎 var_mov_avg.mq4 (5.97 KB)

Source: MQL5 #16492