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One More Average (OMA) Indicators for MT4

#1
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
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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 ...

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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)
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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.

oma_compared_to_sma.gif

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

oma_compared_speeds.gif

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)

oma_compared_adaptive.gif

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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

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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

#2
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
EURJPYH1.png
image_193594.png
step_one_more_avg.png
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

#4
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
EURJPYH1.png
image_193690.png
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

#10
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.
Image
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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