The speed indicator of price change smoothed by the JMA averaging.
The formula for the calculation:
JMASlope[bar] = JMA(Price[bar]) JMA(Price[bar-1])
In some sense it is more sensitive analog of the technical indicator Bill Williams’ Awesome Oscillator.
This indicator was first implemented in MQL4 and published in Code Base on 11.10.2007.
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”.
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