Var Mov Avg MetaTrader indicator | FREE Forex Trading Indicator
Although it is based on the moving average, the Var Mov Avg MetaTrader indicator does not use any standard MT4/MT5 moving average indicators. To produce more accurate signals, it uses its own formula to calculate the moving average with a complex noise filter. In the main chart window, the indicator draws a dotted line exactly over the price curve. The changing colours of the dots indicate changes in the trend. The indicator can send out sound alerts when the trend shifts; you can turn them on and off. The indicator is compatible with both MT4 and MT5.
- periodAMA (default = 50) — period of the main custom moving average. Unlike with other MAs, the higher is this number the less smooth the line is.
- nfast (default = 15) — first noise filter parameter. Higher values make indicator less sensitive to spikes.
- nslow (default = 10) — second noise filter parameter. Higher values make indicator less sensitive to spikes.
- G (default = 1.0) — the power of filtered part in the moving average. Another way to make the signal line smoother.
- dK (default = 0.1) — doesn’t really influence anything much.
- UseSound (default = true) — if true then sound alerts will be used.
- SoundFile (default = “expert.wav”) — name of the sound file for alerts.
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When the dots turn red, the market is in a downtrend. When the dots are green, the price is rising. When the colour red changes to green, buy, and when the colour green changes to red, sell. To protect yourself from false signals, use a moderate stop-loss.
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