M1MA Indicator - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
This is a simple indicator that calculates the closest actual average price for each bar on the timeframe above M1. It uses the price of the corresponding M1 bar to obtain the "effective" (average) price on the chart bar. This estimate is more adequate than any of the standard price types (Close, Open, Median, Typical, Weighted, etc.). But this doesn't mean smoother values, nor is it intended for that purpose.
Effective Price provides you with new insights into price action analysis and important price levels.
Working time range: M5 and above. Recommended time range: within days.
Attachment download
📎 m1ma.mq5 (3.13 KB)
📎 indarray.mqh (4.35 KB)
Source: MQL5 #29673
M1MA indicator - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resource usage and screening suggestions
M1MA indicator - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. 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 only on titles or short-term profit descriptions.
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