Authors:
Big shoutout to the creators of the previous version of "Var Mov Avg3" (2004), GOODMAN & Mstera, and AF. I’m Dmitri Migunov, and I've taken it upon myself to optimize, speed up, and enhance this script. Plus, I've added some handy signal dots (defaulting to yellow) right on your charts!
This indicator is a game-changer. While it’s rooted in the concept of moving averages, it doesn’t rely on the standard MT4/MT5 moving average indicators you might be used to. Instead, it employs its unique formula, complete with a sophisticated noise filter, to deliver more precise signals. You’ll see a dotted line in the main chart window, tracking right over the price curve, with color changes in the dots indicating shifts in trends.
Here's the lowdown: when the dots turn pink, you're looking at a downtrend. When they switch to blue, it's an uptrend. Think of it this way—BUY when the dots change from pink to blue, and SELL when they flip from blue to pink. These transitions are marked by yellow dots. If a yellow dot appears above the price, it’s a signal to SELL; if it’s below, that’s your cue to BUY. Just remember to set a moderate Stop Loss to shield yourself from any false signals.
What's New: As of October 20, 2016, you now have the option to adjust the maximum offset of the signal dots from the current price. Simply tweak the offsetInPips parameter to customize it to your trading style.
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