Kaufman ama - Floating Levels - MetaTrader 5 Script - MT4/MT5 Resources

The Kaufman Adaptive Moving Average (KAMA), developed by Perry Kaufman, is a moving average designed to take into account market noise or volatility. Karma will watch prices closely when price movements are relatively small and the noise is low. When price fluctuations expand, KAMA will adjust to track prices from greater distances. This trend following indicator can be used to identify general trends, time turning points and filter price movements.

Reasons for adding floating levels:

Using KAMA can be difficult at times. If we try to use two KAMA instances with different settings, it can be very tricky to set up the instances correctly due to their adaptive nature, as the two instances can and will produce the exact same results for some periods. On the other hand, using KAMA slope on a signal may result in multiple signals during the ranging period, which may cause losses due to the presence of too many (erroneous) signals. Adding float levels attempts to solve this problem

You can choose between two color changing modes:

Attachment download

📎 kaufman_ama_-_fl.mq5 (12.86 KB)

Source: MQL5 #22292