Fixed Double Smoothed Wilder EMA (Extended Version) - MetaTrader 5 Script - MT4/MT5 Resources
This indicator is a "corrected" version (using Dr. Alexander Uhl's method of modified Wilder's Double Smoothed EMA average
It also adds floating levels to the indicator. This way you have 4 color variations to choose from:
You can use color changes as signals
Attachment download
📎 corr_wilder_ema_sfl6.mq5 (17.35 KB)
Source: MQL5 #24159
Modified Double Smoothed Wilder EMA (Extended Version) - MetaTrader 5 Script Usage and Screening Suggestions
Modified Double Smoothed Wilder EMA (Extended Version) - MetaTrader 5 script is a resource related to Forex 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 only on titles or short-term profit descriptions.
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