Generalized Double DEMA - MetaTrader 5 Script | Forex Indicator 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 Mulloy's article "Commodity Averages by Smoothing Data with Faster Movements" in the February 1994 issue of Stock Technical Analysis Magazine. It is calculated as follows:
It is an extension of Generalized DEMA (originally posted here: Generalized DEMA )
It uses the idea of Tim Tillsons (the inventor of T3) and uses GDEMA's GDEMA for calculation (that is, the "intermediate step" of T3 calculation). Since no version shows "intermediate steps", this version covers that as well. The result is smoother than Generalized DEMA, but not as smooth as T3 - will have to do some experimenting to find the best way to use it, but regardless, since it's "faster" than T3 (Tim Tillson T3) and still smooth, it looks like a good compromise between speed and smoothness.
You can use it as any regular average, or you can use the indicator's color change as a signal.
Attachment download
📎 generalized_double_dema.mq5 (12.17 KB)
Source: MQL5 #22918
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