WEVOMO – indicator for MetaTrader 5

  • A+
category:MT5 INDICATORS

The indicator displays in the price chart two moving averages: Volume Move-Adjusted Moving Average and Weight Volume Move-Adjusted Moving Average, calculated by the formula:

VOMOMA = (MOMA + VOMA)/2
WEVOMO = (MOMA + VOMA + WMA)/3

where:

MOMA[i] = (Close[i-Period+1]*Diff[i-Period+1] + Close[i-Period+2]*Diff[i-Period+2] +... + Close[i]*Diff[i])/Sum(Diff)

VOMA[i] = (Close[i-Period+1]*Volume[i-Period+1] + Close[i-Period+2]*Volume[i-Period+2] + ... + Close[i]*Volume[i])/Sum(Volume)

WMA[i] = (Close[i-Period+1]*1 + Close[i-Period+2]*2 + ... + Close[i]*Period)/LSum

LSum = (Period+1)*Period/2

Diff[i] = Abs(Close[i] - Close[i-1])

The indicator has three input parameters:

  • Period - calculation period;
  • Show Volume Move MA - display Volume Move-Adjusted MA (VOMOMA);
  • Show Weighted Volume Move MA - display Weight Volume Move-Adjusted MA (WEVOMO).

WEVOMO - indicator for MetaTrader 5

Comment

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