What is the Multi-Pass Average Filter?
This innovative indicator takes the concept of averaging to a whole new level. While many digital filters rely on coefficients, this version simplifies things by skipping them altogether. The beauty of this approach lies in enhanced efficiency and ease of use. Instead of the traditional method of summing values and dividing, it employs a unique calculation that avoids the cumbersome nxn complexity that can bog down your PC. So, while it may not look like your typical digital filter, it’s designed for performance.
Limitations to Keep in Mind:
The maximum pass value you can set with this indicator is 10. If you want to tweak this number, just head to line 4 of the code:
#define _maxPass 10
Simply replace the "10" with your desired maximum pass. However, in this published version, we’ve kept it at 10 for practical reasons.
How to Use the Indicator:
The color shifts in this indicator can serve as useful trading signals. It’s highly recommended to experiment with the optimal pass settings that suit your trading style—this is crucial for achieving the best results (take a look at the "big picture" example below to understand why). Remember, when you set the pass to 1, the indicator will mirror the Simple Moving Average (SMA). The real magic happens when you explore passes other than 1, so starting with shorter MA periods and playing around with different pass settings is often a winning strategy.
Big Picture Example:
Here's a visual representation using 10 instances of the indicator with default parameters, only changing the pass from 1 to 10:
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