The “Lag Reduce Factor” is a simple method to the reduce the delay to a data series. In this case it is applied to a simple moving average. It could be changed with other input (change MA value with any of data serie of your choice). The factor to add more or less weight to the delay elimination is the “RLfactor” setting (default = 1.3).
While it is different to a ‘zero lag’ calculation method, it could be classified in the same category.
//PRC_MA Lag reduce factor | indicator
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//original idea from scriptor (MT5 indi)
// --- settings
period = 20
RLfactor = 1.3
// --- end of settings
MA = average[period](customclose)
MLR = exp(RLFactor*log(MA / MA))*MA
RETURN MLR coloured(148,02,11) style(dottedline,3)
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