The Moving Average which uses quite a simple procedure on decreasing temporal lag based on the increase of the Moving Average period. The method was firstly described by Manfred G. Dürschner in his article Gleitende Durchschnitte 3.0 (in German).
3rd Generation Moving Average demonstrates the lowest lag level in comparison with the simple exponential Moving Average and faster adjusts on price changes. Unfortunately, this indicator will still have some delay and can give false signals. You can use the 3rd Generation Moving Average indicator for financial markets analysis in the same way as the standard Moving Average – to determine the current trend direction.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
MT5 Indicator – Download Instructions
3rd Generation Moving Average is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
3rd Generation Moving Average provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install 3rd Generation Moving Average.mq5?
- Download 3rd Generation Moving Average.mq5
- Copy 3rd Generation Moving Average.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on 3rd Generation Moving Average.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator 3rd Generation Moving Average.mq5 is available on your Chart
How to remove 3rd Generation Moving Average.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: