3rd generation Mobile Media MetaTrader indicator — This is an advanced version of the standard mobile average (MA), which implements a rather simple reduction delay procedure based on the longer MA period. The method was described for the first time by M. Duerschner in its article Gleitende Durchschnitte 3.0 (in German). The version presented uses λ = 2, which provides the best possible reduction delay. A greater λ increases the similarity with the classic moving average. The indicator is available for both MT4 and MT5. Does not require the use of any DLLs.
The input parameters
MA_Period (default = 50) — a period of the 3rd generation moving average.
MA_Method (default = MODE_EMA) — the mobile average method.
MA_Applied_Price (default = PRICE_TYPICAL) — The price applied by the moving average.
As you can see, the 3rd generation MA (Red line) offers a slightly lower delay than the conventional EMA (blue line) and reacts more quickly to price changes. Unfortunately, it is still prone to lagging and can produce false signals. You can use the 3rd generation mobile Media Forex indicator as well as the standard moving average – to detect the direction of the current trend.
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