The 3rd Generation Moving Average | FREE Forex Trading Indicator
The third generation moving average is an advanced version of the standard moving average (MA) indicator for MetaTrader. It implements a fairly simple deduction procedure based on the longest MA period. The method was first described by M. Dürschner in his article Moving Averages 3.0, the version presented uses λ = 2, which offers the best possible crack reduction.A higher λ increases the similarity to the classic moving average. The indicator is available for both MT4 and MT5. It doesn‘t require the use of a DLL.
- MA_Period (default = 50) — a period of the 3rd generation moving average.
- MA_Sampling_Period (default = 220) — a sampling period of the 3rd generation moving average. Should be at least 4 times greater than MA_Period.
- MA_Method (default = MODE_EMA) — method of the moving average.
- MA_Applied_Price (default = PRICE_TYPICAL) — applied price for the moving average.
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As you see, the 3rd Generation MA (red line) offers slightly less lag than the conventional EMA (blue line) and reacts to the price changes faster. Unfortunately, it is still prone to lag and may produce false signals. You can use the 3rd Generation Moving Average Forex indicator the same as the standard moving average — to detect the current trend direction.
This indicator is used for trading in the Adjustable MA 3G expert advisor for MetaTrader.
Downloads (ver. 1.04, 2017-03-15)
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