Price Cycle SMA - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

To calculate the average price, you specify the periods H1 and D1. For example, D1 Average Price allows you to track whether the price of a financial instrument is higher or lower than the average price. The same is true for H1, indicating that the price trend reverses much faster.

The indicator has only three calculation input parameters:

 Input string_symbol name = "0" ; // symbol, 0 = get a symbol from the chart
Enter ENUM_USE_SMA _useSMA =HOUR_SMA; // Use moving average
Input ENUM_APPLIED_PRICE _APPLICATION PRICE = PRICE_WEIGHTED ; // Price

It is recommended to use M1 to M30. M1 is the time scale with the largest amount of information.

You can also compare different financial instruments on the same price chart.

For example, EURUSD and USDCAD, M15.

This indicator also allows you to see resistance/support levels for the daily average price.

Attachment download

📎 price_period_sma.mq5 (19.71 KB)

Source: MQL5 #37360