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Published:

2013.04.24 06:39

Updated:

2023.03.29 13:42

\MQL5\Include\

smoothalgorithms.mqh (134.03 KB) view

navelema.mq5 (5.64 KB) view

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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

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/1651

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