Modified Generalized Double DEMA - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

The Double Exponential Moving Average (DEMA) was developed by Patrick Mulloy in an attempt to reduce the amount of lag in traditional moving averages. It was first introduced in the commodity average in Mulloy's article "Smoothing Data through Faster Movements" in the February 1994 issue of Stock Technical Analysis magazine. ”. The calculation method is as follows:

The "generalized" DEMA is further developed by replacing the 2* and 1* parts with a "volume factor", thus adjusting the "speed" of the result, and the double DEMA is calculated as GDEMA of GDEMA. It is an "intermediate step between simple GDEMA and T3", so it is smoother than GDEMA, but not as smooth as T3.

Use generalized double DEMA and apply the "correction" method invented by Dr. Alexander Wuerl generated a new "modified" generalized DEMA. It also has floating levels to make it easier to identify trends. The supported shading methods are:

Depending on the color change selection, you can use the color change as a signal.

Attachment download

📎 corr_generalized_double_dema.mq5 (20.84 KB)

Source: MQL5 #23064