Self-optimizing SMA - MetaTrader 5 script | Forex indicator download - MT4/MT5 resources
On each bar, the indicator checks all SMA periods in the range from MIN_PERIOD to MAX_PERIOD to find out which period caused the most recent bounce (up or down). If nothing is found, the column will be empty.
This indicator is designed to detect market momentum. Wherever you find that both the upper and lower bound lines are non-empty, you expect range limiting behavior.
This indicator requires a lot of processing. Therefore, choosing a MA period range that is too wide to scan larger lookback bars or changing the SMA to a more complex MA method will cause the indicator to load too late. Anyway, after loading you just update the latest bar.
Attachment download
📎 ama.mq5 (6.23 KB)
Source: MQL5 #56289
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