An advanced indicator is now available that calculates and plots the exponential moving average (EMA) of the true range. Additionally, it computes an offset of the EMA of its deviation. This tool is compatible with both MQL4 and MQL5 due to its use of conditional compilation. Developers can find the source code for this indicator, along with others, in the "Public Projects" section of MetaEditor under the name "FMIC". This resource provides an opportunity to enhance programming skills and indicator comprehension in both MQL4 and MQL5 environments.
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An indicator is available that computes and displays the exponential moving average (EMA) of the true range, along with an offset of the EMA of its deviation. The implementation utilizes conditional compilation, ensuring compatibility with both MQL4 and MQL5 environments. Additionally, all source codes from previous CodeBase publications are now accessible in the "Public Projects" section of MetaEditor, identified by the name "FMIC". This resource offers developers a streamlined way to access, examine, and integrate advanced coding solutions into their projects, reinforcing efficiency in trading strategies.
#MQL4 #MT4 #Indicator #EMA

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The Exponential Moving Average (EMA) indicator is now available for MetaTrader 5. This tool calculates and displays the EMA directly on charts, providing valuable insights for trend identification and signal generation. The indicator offers options to set a user-defined period and choose the applied price, including Close, Open, High, Low, Median, Typical, or Weighted values.

Utilizing the standard EMA formula, it is initialized with a Simple Moving Average (SMA) for the initial bars, ensuring smooth calculations. The indicator is designed to be lightweight and efficient, allowing traders to easily integrate it into their strategies.

The EMA provides faster reactions to price changes than the Simple Moving Average (SMA), aiding in quick market direction assessments. When the price is above the EMA, it may signal an uptrend; below it, a downtrend. It can b...

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