Fig.1 The NavelEMA indicator

NavelEMA – indicator MetaTrader 5

by

The real author:

Bookkeeper

The classic EMA with the linear combination of price timeseries. The formula for the calculation:

NavelEMA = EMA( ( close*5 + open*2 + high + low ) / 9 )

This indicator was first implemented in MQL4 and published in Code Base on 05.02.2009.

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”.

Fig.1 The NavelEMA indicator

Fig.1 The NavelEMA indicator


NavelEMA – indicator MetaTrader 5
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