Generalized 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 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 generic version allows you to change it instead of using a fixed multiplication factor in the final DEMA formula. By changing the Volume Factor from 0 to 1, you can apply different multiplications, resulting in DEMAs with different "speeds" - the higher the Volume Factor, the "faster" the DEMA will be (but its slope will also be less smooth). The volume factor is limited to 1 in the calculation because any volume factor greater than 1 will increase the overshoot to the point where the use of certain volume factors will render the indicator unusable.
You can use it as any regular average, or you can use the indicator's color change as a signal.
Attachment download
📎 generalized_dema.mq5 (11.57 KB)
Source: MQL5 #22917
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