Third Generation Moving Average MT5 - MetaTrader 5 Script | Forex Indicator Download - MetaTrader 5 Resources
MA_Applied_Price (default = PRICE_TYPICAL) — applied price of the moving average.
As you can see, the third generation MA (red line) has slightly less lag than the traditional EMA (blue line) and reacts more quickly to price changes. Unfortunately, it's still prone to lag and can produce false signals. You can use the Moving Average Forex indicator 3rd generation just like the standard moving average — to detect the current trend direction.
Attachment download
📎 3rdgenma.mq5 (15 KB)
Source: MQL5 #55327
The third generation moving average MT5 - MetaTrader 5 script | Forex indicator download - MetaTrader 5 resource usage and screening suggestions
Third Generation Moving Average MT5 - MetaTrader 5 Script | Foreign Exchange Indicator Download - MetaTrader 5 resources are related to foreign exchange indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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