The NonLag indicator is a fantastic tool for traders using MetaTrader 5. Unlike traditional moving averages, this non-lagging average provides timely signals, helping you stay ahead of the market.
Let’s dive into its five adjustable parameters:
- Period - Defines the calculation period for the average.
- Method - Determines the calculation method you want to use.
- Applied Price - Specifies the price level for calculations.
- Filter - A noise filter that helps smooth out price movements.
- Deviation (Price) - This shifts the indicator line vertically, allowing for channel indicators to be built.
The Deviation (Price) parameter allows you to adjust the indicator's vertical position, which can be crucial for visualizing price movements effectively.
Fig. 1. NonLag Average, Period = 5
Fig. 2. NonLag Average, Period = 5, Filter = 100
Fig. 3. Two NonLag Averages, Period = 5, Filter = 100,
Deviation (Price) of the first = 0.1, Deviation (Price) of the second = -0.1
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