WEVOMO - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
This indicator displays two moving averages on the price chart: the volume moving average and the weighted volume moving average, calculated as follows:
VOMA = (MOMA + VOMA)/2 WEVOMO = (MOMA + VOMA + WMA)/3
Where:
MOMA[i] = (Close[i-Period+1]*Diff[i-Period+1] + Closing[i-Period+2]*Diff[i-Period+2] +... + Closing[i]*Diff[i])/Sum(Diff)
VOMA[i] = (Closing Price[i-Period+1]*Trading Volume[i-Period+1] + Closing Price[i-Period+2]*Trading Volume[i-Period+2] + ... + Closing Price[i]*Trading Volume[i])/Sum(Trading Volume)
WMA[i] = (off[i-Period+1]*1 + off[i-Period+2]*2 + ... + off[i]*Period)/LSum
LSum = (Period+1)*Period/2
Diff[i] = Abs(closing price[i] - closing price[i-1])
The indicator has three input parameters:
Attachment download
📎 wevomo.mq5 (10.82 KB)
Source: MQL5 #20927
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