Range Weighted EMA - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
The range-weighted exponential moving average (EMA) is calculated in a different way than the "regular" range-weighted average (originally posted here: Range-Weighted Average ). Although the basis (scope weight) is the same, the calculation is completely different. By definition, this type of EMA is calculated as the ratio of Price EMA*Weight/Weight EMA. And the results vary so much that the two should be considered completely different types of averages. When the range increases, the response to price changes above the EMA also remains within this EMA, and in these cases this EMA is clearly ahead of the "regular" EMA.
You can use it as any other average (including using color changes as signals).
Attachment download
📎 range_weighted_ema.mq5 (8.04 KB)
Source: MQL5 #23197
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