Coral indicator is a colored moving average.
It has two configurable parameters:
- Coefficient – smoothing ratio (*)
- Applied price
Calculation:
Coral = (-0.064) * B6 + 0.672 * B5 – 2.352 * B4 + 2.744 * B3
where:
B6 = Coefficient * B5 + coeff2 * PrevB6
B5 = Coefficient * B4 + coeff2 * PrevB5
B4 = Coefficient * B3 + coeff2 * PrevB4
B3 = Coefficient * B2 + coeff2 * PrevB3
B2 = Coefficient * B1 + coeff2 * PrevB2
B1 = Coefficient * Applied price + coeff2 * PrevB1
coeff2 = 1.0 – Coefficient
* Smoothing ratio is, in fact, a calculation period. It cannot be less than 0.0086 and exceed 1.0.
The smaller the value, the longer the calculation period. The value of 1 corresponds to the calculation period of 1 of the moving average.
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