Corrected volume weighted moving average – indicator MetaTrader 5
by
Theory:
Volume weighted moving average is similar to some other weighted averages, except that it is using the volumes for weighting the prices. That way the price when the volume (tick volume or real volume) is high is more emphasized than the price where the volume is low
This version:
Chose the volume type which you wish to use for volumes. You can choose:
tick volumes
real volumes
Is using the VWMA (Volume Weighted Moving Average) and is applying the “correcting” method invented by dr. Alexander Uhl to produce a new “corrected” generalized DEMA. It also has floating levels for easier trend determination. Coloring methods supported are the following :
color change on slope change
color change on outer (floating) levels cross
color change on middle (floating) level cross
color change on average (GDEMA) value cross
Usage:
If your broker does not have real volumes, the indicator will assume that the volume is equal to 1 and in that case the average will be the same as SMA (Simple Moving Average). In all the other cases, it will depend on the underlying volumes. Depending on the choice of color change, you can use the color change as signal.
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