Discussing the article: "MQL5 Wizard Techniques you should know (Part 24): Moving Averages"
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Check out the new article: MQL5 Wizard Techniques you should know (Part 24): Moving Averages.
Moving Averages are a very common indicator that are used and understood by most Traders. We explore possible use cases that may not be so common within MQL5 Wizard assembled Expert Advisors.
We continue this series on MQL5 Wizards by looking at the moving average indicator and how it could be added to the library of tools already available in ways that could be novel to some traders. The Moving Average has very many variants as a single time series attachable to a chart, but also other variants as an oscillator and even others an envelopes' indicator.
We will explore these multiple applications or variants within a special category of 3 Moving Averages (MA) called the Pythagorean Means. The 3 MAs under this name are Arithmetic Mean(AM), Geometric Mean(GM) and Harmonic Mean(HM). The first of these, the arithmetic mean, is what everyone first thinks of with the mention of MA. It is simply the average of any number of values in a set. Wikipedia has a very interesting summary of all these 3 means in a diagram. It is shared below:
Author: Stephen Njuki