The drawing of this Moving Average is based on Demark’s “Daily Range Projections” method. In this version of the indicator, the MA is colored depending on its direction. A growing Moving Average is green, a falling one is pink.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 04.11.2008.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <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”.
