middle high-low moving average - MHLMA
July 29, 2016, 5:28 PM
Indicators
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The middle high low moving average (MHLMA) is the new moving average described by V.APIRINE in the last TASC magazine (August 2016).
This indicator take the center value of the last 3 highest high and lowest low and then smooth it with a simple moving average (10 periods default).
The author describe a method to combine this indicator with another traditional moving average to trigger signals of trend following.
// --- external parameters
//HLrangeperiods = 3
//MAlength = 10
hh = highest[HLrangeperiods](high)
ll = lowest[HLrangeperiods](low)
r = (hh+ll)/2
MHLMA = average[MAlength](r)
RETURN MHLMA as "Middle High Low Range Moving Average"
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Filename:
PRC_MHL-MA.itf
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