EVWMA is the indicator that represents an elastic, volume weighed Moving Average. This is another interpretation on the theme of a good old Moving Average, so the main task is to get the best Moving Average and remove its drawbacks.
What is the difference of the EVWMA indicator from the standard Moving Average? At first, the EVWMA indicator has no period of averaging, but instead of it volume or time is used. Thus the indicator can be considered as self-adjust to different market states. In this respect, the information about volume is considered by the EVWMA indicator in a natural way.
The EVWMA forex indicator has a mathematical basis and is recommended to use as a trend indicator instead of traditional Moving Averages. However, some drawbacks should be considered, for example “broken” type of the line that will not allow to define the trend force.
To this must be added that for a normal work of the indicator, the indicator must be promptly set for each financial instrument and input parameters must be selected according to each timeframe!
MT5 Indicator – Download Instructions
EVWMA is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
EVWMA 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 EVWMA.mq5?
- Download EVWMA.mq5
- Copy EVWMA.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 EVWMA.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator EVWMA.mq5 is available on your Chart
How to remove EVWMA.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: