Ergodic CMI-Oscillator Blau_Ergodic_CMI – indicator MetaTrader 5

Author: Andrey N. Bolkonsky

Ergodic CMI-Oscillator (based on Candlestick Momentum Index) is described by William Blau in the book “Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis”.

• WilliamBlau.mqh must be placed in terminal_data_folder\MQL5\Include\
• Blau_CMI.mq5 must be placed in terminal_data_folder\MQL5\Indicators\

Ergodic CMI-Oscillator by William Blau

Calculation:

The Ergodic CMI-Oscillator is defined as follows:

where:

• Ergodic_CMI() – Ergodic – Candlestick Momentum Index CMI(price1,price2,q,r,s,u);
• SignalLine() – Signal Line – exponentially smoothed moving average EMA(ul), applied to Ergodic;
• ul – period of a signal line.

Input parameters:

• graphic plot #0 – Ergodic (Candlestick Momentum Index):
• q – number of bars, used in calculation of Candlestick Momentum (by default q=1);
• r – period of the 1st EMA(r), applied to Candlestick Momentum (by default r=20);
• s – period of the 2nd EMA(s), applied to result of the 1st smoothing (by default s=5);
• u – period of the 3rd EMA(u), applied to result of the 2nd smoothing (by default u=3);
• graphic plot #1 – Signal Line:
• ul – period of the Signal Line – EMA(ul), applied to Ergodic (by default ul=3);
• AppliedPrice1 – price type (by default AppliedPrice1=PRICE_CLOSE);
• AppliedPrice2 – price type (by default AppliedPrice2=PRICE_OPEN).

Notes:

• q>0;
• r>0, s>0, u>0. If r, s or u are equal to 1, smoothing is not used;
• ul>0. If ul=1, the signal and main lines are the same;
• Min. rates = (q-1+r+s+u+ul-4+1).