2pbIdealXOSMA – indicator MetaTrader 5

The 2pbIdealXOSMA indicator represents the MACD histogram drawn by the 2pbIdeal1MA and 2pbIdeal3MA indicators and smoothed by one of the ten variants of averaging:

1. SMA – simple Moving Average;
2. EMA – exponential Moving Average;
3. SMMA – smoothed Moving Average;
4. LWMA – linear weighed Moving Average;
5. JJMA – adaptive averaging JMA;
6. JurX – ultralinear averaging;
7. ParMA – parabolic averaging;
8. T3 – Tillson’s multiple exponential smoothing;
9. VIDYA – smoothing using Tushar Chande’s algorithm;
10. AMA – smoothing using Perry Kaufman’s algorithm.

It should be noted that Phase parameters for different smoothing algorithms have a completely different meaning. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for the VIDYA it is a CMO oscillator period and for the AMA it is a slow EMA period. In other algorithms these parameters do not affect smoothing. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

The color of the histogram and the signal line is changed depending on the current market situation.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging price series for intermediate calculations without using additional buffers”.

Fig.1 The 2pbIdealXOSMA indicator