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ITrendMA - indicator for MetaTrader 5
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- 4171
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- Published:
- 2018.06.06 13:55
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Instantaneous Trendline by J.Ehlers is calculated by the following formula:
If i<=7:
ITrend[i] = (Price[i] + 2*Price[i-1] + Price[i-2])/4
If i>7:
ITrend[i] = c1*Price[i] + c2*Price[i-1] - c3*Price[i-2] + c4*ITrend[i-1] - c5*ITrend[i-2]
where
c1 = Alpha - 0.25*Alpha*Alpha, c2 = 0.5*Alpha*Alpha, c3 = Alpha - 0.75*Alpha*Alpha, c4 = 2*(1 - Alpha), c5 = (1 - Alpha)*(1 - Alpha), Alpha = 2/(Period + 1)
The indicator has two input parameters:
- Period - calculation period;
- Applied price - price used for calculations.
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/20421
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