Fibo Average2 is the second version of the Fibo average indicator. It shows the moving average, which is calculated using bar prices with a shift from the current one by Fibo numbers. In addition, it also displays the second moving average calculated by data of the first Fibo MA using any of the eighteen MA calculation methods.
There are four input parameters:
- MA period - averaging МА calculation period
- MA method - averaging МА calculation method
- FiboMA applied price
- Fibo count - number of Fibo numbers for calculating FiboMA
Sample calculation:
if the number of Fibo numbers (FiboCount) = 8, then
FiboMA = (Price[i] + Price[i+1] + Price[i+1] + Price[i+2] + Price[i+3] + Price[i+5] + Price[i+8] + Price[i+13]) / FiboCount
MA = MA(FiboMA, Period, Method)
where:
Price = FiboMA applied price
