One More Average (OMA) Indicators for MT4

One More Average (OMA) Indicators for MT4

As One More Average "OMA" indicators are a bit different than rest of Moving Average indicators not only code wise but types of displaying/forming differently in an attractive way,with so many sorts and variety,so this thread means to post all "OMA" indicators separately here for easiness and comfort of users
Some Explanation from Mladen:

The usual story goes something like this : which is the best moving average? Everyone that ever started to do any kind of technical analysis was pulled into this "game". Comparing, testing, looking for new ones, testing ...


The idea of this one is simple : it should not be itself, but it should be a kind of a chameleon - it should "imitate" as much other moving averages as it can. So the need for zillion different moving averages would diminish. And it should have some extra, of course :

The extras :

  • it has to be smooth
  • it has to be able to "change speed" without length change
  • it has to be able to adapt or not (since it has to "imitate" the non-adaptive as well as the adaptive ones)

The steps :

  • smoothing - compared are the simple moving average (that is the basis and the first step of this indicator - a smoothed simple moving average with as little lag added as it is possible and as close to the original as it is possible) Speed 1 and non-adaptive are the reference for this basic setup.


"speed changing" - same chart only added one more average with "speeds" 2 and 3 (for comparison purposes only here)


finally - adapting : same chart with SMA compared to one more average with speed 1 but adaptive (so this parameters would make it a "smoothed adaptive simple average") Adapting part is a modified Kaufman adapting way and this part (the adapting part) may be a subject for changes in the future (it is giving satisfactory results, but if or when I find a better way, it will be implemented here)



Some comparisons for different speed settings (all the comparisons are without adaptive turned on, and are approximate : approximation comes from a fact that it is impossible to get exactly the same values from only one way of calculation, and frankly, I even did not try to get those same values)

speed 0.5 - T3 (0.618 Tilson)

speed 2.5 - T3(0.618 Fulks/Matulich)

speed 1 - SMA, harmonic mean

speed 2 - LWMA

speed 7 - very similar to Hull and TEMA

speed 8 - very similar to LSMA and Linear regression value

Due to some properties of this average, it is very convenient to use it as a part of other indicators for pre- (as a filter before calculation) and post- smoothing. Some of the indicators that are going to be posted in this section are going to use this way to achieve those goals


And, the last (it might be posted before the rest, but )

Parameters :

Length- length (period) for averaging ]AppliedPrice- price to use for averaging (it uses the usual metatrader values :

0 - close

1 - open

2 - high

3 - low

4 - median (high+low)/2

5 - typical (high+low+close)/3

6 - weighted (high+low+close+close)/4

Speed- desired speed (i limited to -1.5 on the lower side but it even does not need that limit - some interesting results with speeds that are less than 0 can be achieved)

Adaptive- does it adapt or not

PS: did not think of a different name for it.We could name it whatever we want (since it does not exist anywhere else but here on TSD) but I rather like this name :)
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: One More Average (OMA) Indicators

Starting from some "Step OMA" indicator versions
Step One more average
This of Step OMA with oma length - oma speed - adaptive true/false - sensitivity and step size parameters - shift - high low true/false and alerts
upper picture with default parameters,2 instances high low true and the other false
Step One more average.mq4
(9.14 KiB) Downloaded 1146 times
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: One More Average (OMA) Indicators

Step One more average 2
MLADEN : This is step OMA that doesnot use fixed step size but uses average true range as a step size - make it less dependent oh symbol and/or time frame
Step One more average 2.mq4
(9.15 KiB) Downloaded 625 times
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: One More Average (OMA) Indicators

chsrahim wrote:
Mon Aug 07, 2017 10:05 pm
Dear mntiwana , can you share indicators and template of this picture:
thank you and best regards.
As far as I see that is HA offline chart - and if you apply the indicators to it, you should get similar results

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