Var Mov Avg 2016 (varmov) - indicatore per MetaTrader 4

Authors:

Thanks for previous version of "Var Mov Avg3 " (2004) to authors GOODMAN & Mstera и AF. I (Dmitri Migunov) optimized, accelerated and improved the script. And also I added signal dots (yellow color by default) on chart.

This indicator is based on the moving average, but it doesn't use any standard MT4/MT5 moving average indicators. It uses its own formula to calculate the moving average with a complex noise filter to produce more accurate signals. The indicator displays dotted line in the main chart window exactly over the price curve. The changing colors of the dots signal trend changes. The indicator shows signals on chart (yellow dots by default higher/below price), and also can signal sound alerts on trend changes; you can turn them on and off.

When the dots are pink, the price is in the downtrend. When the dots are blue, the price is in the uptrend. BUY when pink changes to blue and SELL when blue changes to pink. These moments are marked by yellow dots. If the yellow dot is above the price, this is a signal to SELL. If the yellow dot is below the price, this is a signal to BUY. Use moderate Stop Loss to protect yourself from false signals.

Updated in 20 oct, 2016: now you can change the maximum offset of the signal dots from current price. Change "offsetInPips" parameter for it.