EMA to SMA MACD – extended – indicator MetaTrader 5
by
Theory :
The idea comes from another trading platform. They called it differently there, but the name here reflects exactly what it is all about. The idea is simple : we are counting on a fact that EMA (Exponential Moving Average) is “faster” from SMA (Simple Moving Average). That way a “MACD” is constructed using single period (unlike the “classical” MACD that needs fast and slow period average for calculations). The signal line in this one is calculated as a sma
This version is showing how easy is to extend almost any type of indicator(s) with some of the features that MT5 is offering us
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