Delta EMA
- Indicators
- Steven Brown
- Version: 1.4
- Updated: 19 November 2018
- Activations: 5
Advantages
- Indicates strength of momentum
- Shows trend reversals
- Provides buy and sell signals
Features
- Audible alerts
- E-mail alerts
- Prints data to terminal
- Adjustable parameters
- Updates in real time
- Accessible by external EA
Input variables
EMA periods: The number of bars in the exponential moving average of delta. This number determines the alpha or smoothing factor of the moving average.
Print deltas: When set to true, the value of the EMA of delta at the open of every bar is printed to the terminal.
The default values of "EMA periods" and "Signal threshold" work well on the H1 chart. Smaller values of "Signal threshold" work better on shorter timeframes, where changes from one bar to the next are less, and larger values work better on longer timeframes. Optimal values can be found by using the output of Delta EMA as input to an Expert Advisor and running the EA in Strategy Tester. The EMA of delta for the current bar not yet completed is updated at every incoming tick and is displayed in the upper-left corner of the indicator's window. This value, or the value at the close of any previous bar, can be accessed by an external Expert Advisor calling the iCustom() and CopyBuffer() functions. The link to iCustom() provides an example of how to do that. The number of the indicator buffer to access is 0. That buffer uses reverse indexing order, so the index for the value of the EMA of delta for the current bar is 0, the index for the value at the close of the preceding bar is 1, the index for bar before that is 2, and so on. Note that if more than one value is copied, the order of indexing can be preserved in the destination buffer by first calling ArraySetAsSeries() like this: ArraySetAsSeries(EA_Buffer, true).
