Corrected T3 EMA Deviation for MT4 & MT5

From Mladen Rakic:

Origin of the correcting algorithm:

Dr. Alexander Uhl invented a method that he used to filter the Moving Average and to check for signals. Originally it used a Standard Deviation as a measure to correct the Moving Averages's values to filter noisy signals.

This indicator: A modified, Corrected method of using the EMA Deviation in place of the Standard Deviation

This indicator is using the modified "correcting" method. Instead of using a Standard Deviation for calculation, it is using the EMA deviation (EMAD) which results in two things:

• the calculation of EMA deviation can be made to be much faster than the standard deviation calculation, and that results in more efficient code
• Surprisingly, this way of "correcting" produces less signals compared to then when Standard Deviation is used. That is a result of EMA deviation being more responsive to price changes which makes the correcting even less sensitive to whipsaws. In any case experimenting is advised before using it in live trading.

Usage :

You can use the change of color as signals


MetaTrader 4 indicator version

Did an mt4 version.