ATR adaptive EMA
August 31, 2018, 12:47 PM
Indicators
4 Comments
There a lot of ways how some indicators can be made adaptive instead of calculating fixed periods.
One, less known method, is to use normalized ATR (Average True Range) for making the calculation adaptive. And since EMA (Exponential Moving Average) is a a good candidate for being adaptive (it allows fractional periods for calculation), this EMA is using ATR for adaptive EMA calculations.
(author: mladen)
//PRC_ATR Adaptive EMA | indicator
//31.08.2018
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted from Metatrader5 version
// --- settings
EmaPeriod = 20
// --- end of settings
if barindex>EmaPeriod then
price = customclose
atr = averagetruerange[EmaPeriod]
start = max(1,barindex-EmaPeriod+1)
mmax = highest[start](atr)
mmin = lowest[start](atr)
coeff = 1-(atr-mmin)/(mmax-mmin)
alpha = 2.0 / (1+EmaPeriod*(coeff+1.0)/2.0)
val = val[1]+alpha*(price-val[1])
endif
return val
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Filename:
PRC_ATR-Adaptive-EMA.itf
Downloads:
387
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