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Hi,
I need a simple indicator programmed for MQL4
What it should do is to plot the minimum absolute value of 3 calculated values (=differences of 3 EMAs, i.e. EMA1-EMA4, EMA2-EMA4, EMA3-EMA4) smoothed by an EMA. Further 3 threshold lines should be plotted as well.
Indicator
Should be applicable to current symbols and current timeframe (no presets of limitations)
Input:
Value, Format Periods (values of periods with option to change):
0 decimals (0)
Period1 = 50
Period2 = 100
Period3 = 150
Period4 = 200
Period5 = 10
Value, Format Thresholdlines (values of lines with option to change):
Up to 5 decimals (0.00001)
Standard style format (but with option to change):
Volind = Line, black, solid, thickness level 2
Threshold1 = line, green, solid, thickness level 1
Threshold2 = line, gray, solid, thickness level 1
Threshold3 = line, red, solid, thickness level 1
Main Calculation:
MinEMA = Mimimum of (abs(EMA1(close,Period1)-EMA4(close;period4)); abs(EMA2(close, period2)-EMA4(close, period4)); abs(EMA3(close;period3)-EMA4(close, period4)))
Output:
Volind= EMA(MinEMA; period5);
Thresholdline1: 0.0015 (= horizontal line)
Thresholdline2: 0.00 (= horizontal line)
Thresholdline3: 0.007 (=horizontal line)
Thanks