To calculate the average price, you can specify the periods H1 and D1. For example, the D1 average price allows you to track whether the price of a certain financial instrument is above or below the average price. The same is with H1, which indicates a price trend reversal much faster.
The indicator has only three calculated input parameters:
input string _symbolName ="0"; // Symbol, 0 = take a symbol from the chart input ENUM_USE_SMA _useSMA =HOUR_SMA; // Use moving average input ENUM_APPLIED_PRICE _appliedPrice =PRICE_WEIGHTED; // Price
- Symbol for calculations;
- The time period for which the average price is calculated;
- Applied price.
It is recommended to use from M1 to M30, M1 is the most informative time scale.
You can also compare different financial instruments on the same price chart.
For example, EURUSD and USDCAD, M15.
The indicator also allows you to see the resistance / support levels of the daily average price.
