McGinley Dynamic Average - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The McKinley dynamic indicator has several formulas. This version is based on the Metastock formula, but adds an option to choose a different "basic" average type (default is EMA). This you can have:
It can be used as any other average. The differences between types can be significant (see second example where all 4 types are on the same chart), so it is recommended to do some experimentation before using it for trading decisions
Attachment download
📎 mcginley_dynamic_average.mq5 (8.95 KB)
Source: MQL5 #24446
McGinley Dynamic Average - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
McGinley Dynamic Average - 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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