Third Generation Moving Average - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Real author:
Moving averages use a very simple procedure to reduce the time lag as the moving average period increases. The method was first described by Manfred G. Dürschner in his article Gleitende Durchschnitte 3.0 (in German).
The third generation moving average exhibits the lowest level of lag and adjusts to price changes more quickly than the simple exponential moving average. Unfortunately, the indicator still has some latency and may give false signals. You can use the third generation Moving Average indicator for financial market analysis just like the standard moving average - to determine the current trend direction.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied 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.
Figure 1 The third generation moving average indicator
Attachment download
📎 color3rdgenxma.mq5 (8.51 KB)
📎 smoothalgorithms.mqh (134.03 KB)
Source: MQL5 #1576
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