3rd Generation XMA is the 3rd generation moving average. This is an advanced version of the standard moving average indicator (МА) that follows a fairly simple procedure to reduce the time lag based on the increase in the moving average period.
The method was first described by Dr. Manfred Dürschner in his article “Gleitende Durchschnitte 3.0” (in German). This implementation uses λ = 2 resulting in more effective lag reduction. Higher λ increases the similarity with the classic moving average.
//+-----------------------------------+ //| Indicator input parameters | //+-----------------------------------+ input Smooth_Method XMA_Method=MODE_EMA; // Smoothing method input int XLength=50; // Smoothing depth input int XPhase=15; // Smoothing parameter input Applied_price_ IPC=PRICE_TYPICAL; // Price constant input int Shift=0; // Horizontal shift of the indicator in bars input int PriceShift=0; // Vertical shift of the indicator in points
This indicator allows you to select averaging algorithms out of ten possible options:
- SMA – simple moving average;
- EMA – exponential moving average;
- SMMA – smoothed moving average;
- LWMA – linear weighted moving average;
- JJMA – adaptive JMA smoothing;
- JurX – ultralinear smoothing;
- ParMA – parabolic smoothing;
- T3 – Tillson’s multiple exponential smoothing;
- VIDYA – smoothing using the algorithm developed by Tushar Chande;
- AMA – smoothing using Perry Kaufman’s algorithm.
It should be noted that Phase parameters for different smoothing algorithms have completely different meaning. For JMA, it is an external Phase variable that varies from -100 to +100. For T3, it is a smoothing coefficient multiplied by 100 for better visualization. For VIDYA, it is a CMO oscillator period. And for AMA, it is a slow EMA period. These parameters do not affect the smoothing in other algorithms. For AMA, the fast EMA period is a fixed value and is equal to 2 by default. The powering coefficient for AMA is also fixed at 2.
The indicator uses the SmoothAlgorithms.mqh library classes (to be copied to the terminal_data_directory\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 XMA is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
3rd Generation XMA 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 XMA.mq5?
- Download 3rd Generation XMA.mq5
- Copy 3rd Generation XMA.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 XMA.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator 3rd Generation XMA.mq5 is available on your Chart
How to remove 3rd Generation XMA.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: