Double, Triple and Quadruple Exponential Moving Averages (Multi Time-frame)
Indicators for MetaTrader
This item has been sold: 983 times (25 Mar 2023)
This product contains 3 technical indicators for MetaTrader 4.
All 3 indicators are multi time-frame: on your current chart, the indicator can display the calculation from a higher time-frame.
The smoothed EMA allows a much more accurate calculation of average prices over your preferred period.
Double Exponential Moving Average and Triple Exponential Moving Average use the formulas demonstrated by Mulloy in 1994.
Quadruple Exponential Moving Average uses the formula proposed by Pio in 2010.
>> Full and documented source code
>> Installation (Windows/Linux)
Native documentation in:
The Licensed Software End User Agreement is available here.
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Product price: USD 228.00
All three indicators are variations of a smoothed Exponential Moving Average.
A smoothed Exponential Moving Average combines the purposes of:
A) an average calculation where more recent prices account for more than older ones, but where the most recent reading doesn't falsely move if a recent Price has moved more than usual,
B) a calculation that comprehensively describes a trend over a period of time, if there's really such a trend.
A common principle that drive the formulas is to take into account the actual difference between the price and a simple EMA.
As a result, such an indicator can be used either:
1) as a filter to discard false entries (i.e. firmer signals),
2) a stable confirmation of a trend, for example as part of a triple-screen system.
In the trading literature, these indicators have been demonstrated within trading systems by simply using price crossovers. For example, long entries when on a new bar the latest close price goes above the average, short entries when on a new bar the latest close price goes below the average. As usual, entries should be set up with the best limit-price possible and an associated stop order, and exits should be based on different indicators such as a band or envelop, and highly benefit from a trailing strategy.
For example, if you trade on a single chart using the Double Exponential Moving Average (DBL EMA):
> When the Close Price of a completed bar has gone above the DBL EMA, create a Limit Order slightly under the current Ask Price. Set a Soft Stop just under the latest Low Price that was under the DBL EMA. When the current price goes above half of the upper Envelop, start a trailing stop at 50% of the order's profit value. You can choose to close and take the profit when the the Close Price of a completed bar has gone above the Envelop; or, you can let the trailing stop work until the profit stops by itself.
> When the Close Price of a completed bar has gone below the DBL EMA, create a Limit Order slightly above the current Bid Price. Set a Soft Stop just abobe the latest High Price that was above the DBL EMA. When the current price goes below half of the lower Envelop, start a trailing stop at 50% of the order's profit value. You can choose to close and take the profit when the the Close Price of a completed bar has gone below the Envelop; or, you can let the trailing stop work until the profit stops by itself.
Another example would be to use a DBL EMA as part of a triple-screen system. In that case, you can load the DBL EMA so it shows a higher time-frame. For example, if you trade on H1, load the DBL EMA indicator on H1 but showing the H4 values.
> When the DBL EMA shows an up trend on the higher time-frame, use an indicator on H1 to spot good entries. This could be any oscillator showing lower values; or, it could be a TPL EMA: enter when the price goes down back closer to the TPL EMA on H1.
> When the DBL EMA shows a down trend on the higher time-frame, use an indicator on H1 to spot good entries. This could be any oscillator showing upper values; or, it could be a TPL EMA: enter when the price goes up back closer to the TPL EMA on H1.
A documentation is provided with this indicator, on top of the executable and this MQL code, at the time of purchase.
Please read it first and refer to it.
Customer support is available as described in the documentation.
Click here for a documentation sample. This is a truncated version.
The Documentation is provided in native English.
The code is documented in English.
The programme has been tested in a variety of MetaTrader distributions (JFD, Corespread, Oanda, FXCM etc) as well as under Linux or Windows.
Samples (click to enlarge):
Double EMA on FR40 (higher chart):
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Coding & Programming
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Refunds / Returns:
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Product price: 228.00 USD
Notice: By proceeding with the purchase, you are agreeing with the Licensed Software End User Agreement.