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You liked the script? Try it in the MetaTrader 5 terminal
Deviation scaled MA - extended - indicator for MetaTrader 5
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- 4347
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- Published:
- 2018.11.24 17:15
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Theory :
The original of deviation scaled ma was originally published here : Deviation Scaled MA with some more explanation. That original is using what Ehlers calls a "filer" which is simply a difference between close and a close of 2 bars ago. That is all OK - as long as you use close price ... or as long as you use it to smooth price ...
This version :
It corrects the usage of filter and makes it possible to apply deviation scaled MA to any value (does not matter if it is a price or some other value)
Usage :
It can be used as any other average now
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