Corrected double smoothed Wilder's EMA (extended version) - indicator for MetaTrader 5
Theory :
This indicator is a "corrected" version (using dr. Alexander Uhl's method for correcting an average) of Wilder's double smoothed EMA
Also it is adding floating levels to the indicator. That way you have 4 choices for color changes :
- change color when outer floating levels are crossed
- change color when middle floating level (a sort of a "zero line") is crossed
- change color on slope change
- change color original to corrected value cross
Usage :
You can use color changes as signals
Download link :Corrected double smoothed Wilder's EMA (extended version)
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