Ergodic Mean Deviation Index Oscillator Ergodic_MDI – indicator MetaTrader 5

Author: Andrey N. Bolkonsky

Ergodic MDI-Oscillator by William  Blau is based on Mean Deviation Index (see Momentum, Direction, and Divergence: Applying the Latest Momentum Indicators for Technical Analysis).

Usage:

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

Ergodic MDI-Indicator by William Blau

Calculation:

Ergodic Mean Deviation Oscillator is calculated as follows:

where:

• Ergodic_MDI() – Ergodic (mean deviation indicator MDI(price,r,s,u));
• SignalLine() – Signal Line – exponentially smoothed moving average of a period ul, applied to ergodic;
• ul – period of EMA of a Signal Line.

Input paramters:

• graphic plot #0 – Ergodic (Mean Deviation Indicator):
• r – period of the 1st EMA, applied to price (by default r=20);
• s – period of the 2nd EMA, applied to mean deviation (by default s=5);
• u – period of the 3rd EMA, applied to result of the 2nd smoothing (by default u=3);
• graphic plot #1 – Signal Line:
• ul – EMA period of a Signal Line, applied to ergodic (by default ul=3);
• AppliedPrice – price type (by default AppliedPrice=PRICE_CLOSE).

Note:

• r>1;
• s>0, u>0. If r, s or u =1, smoothing is not used;
• ul>0. If ul=1, the Signal Line and Mean Deviation Index are the same;
• Min. rates=(r+s+u+ul-4+1).