Parabolic Weighted Moving Average - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
A linear weighted moving average calculates an average by assigning a different weight to each element used in the calculation, but using simple linear weights. For example, in LWMA(10), the first price (current) has a weight of 10, the previous price is 9, the previous price is 8, and so on...
This is a variation of it where the weights can be changed to form a parabola. Just use the Strength parameter of this indicator.
This indicator has 2 special cases: when the power is 0, it is a simple moving average (SMA); when the power is 1, it is a linear weighted moving average (LWMA); for cases in between, we can imagine what to call them.
The larger the strength parameter, the greater the weight (faster) of the current price setting. The smaller the force parameter the slower the moving average.
Attachment download
📎 parabolic_weighted_moving_average.mq5 (8.22 KB)
Source: MQL5 #21757
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