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Averages > MWD Xaverage

Article/Author: Unknown

Download: mwdxavg.ela

File Includes:

Indicator - MWD Xaverage
Function - MWDXaverage

Category: Indicator > Average

Description: Plots MWD XAverage indicator. MWD Xaverage is a kind of an exponential moving average indicator. It is caluculated according to formula:

MWDXAVERAGE = FACTOR * PRICE + (1 - FACTOR) * PRICE[1], where:


FACTOR = 2 / (2/FAC-1 + 1);


Usage:

The most popular method of interpreting a moving average is to compare the relationship between a moving average of the security's price with the security's price itself (or between several moving averages).




Inputs:

Price - the data series to average
Fac - variable, used in MWDXaverage function calculation

EasyLanguage Code:
INPUTS: PRICE(CLOSE), FAC(.2);


PLOT1(MWDXAVERAGE(PRICE,FAC), "MWDXAVERAGE");