Signal line and the possibility to select price time series are added in this version of Larry Williams’ Percent Range.
This indicator allows to change smoothing method:
SMA – simple moving average;
EMA – exponential moving average;
SMMA – smoothed moving average;
LWMA – linear weighted moving average;
JJMA – JMA adaptive average;
JurX – ultralinear smoothing;
ParMA – parabolic smoothing;
T3 – Tillson’s multiple exponential smoothing;
VIDYA – smoothing with the use of Tushar Chande’s algorithm;
AMA – smoothing with the use of Perry Kaufman’s algorithm.
It should be noted that Phase type parameters for different smoothing algorithms have 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 VIDYA it is a CMO oscillator period and for 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 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”.
