QWMA – quadratic weighted moving average – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • This is the “regular” version of QWMA (what used to mean “quadratic
    weighted moving average”). The “quadratic” part does not stand any more,
    but the name is kept. Change made it able to calculate arbitrary weights, and that is why it is not (just) qwma any more, but since the original idea did come from that, the name remained …

    This version :

    • has
      a choice to use floating levels or not (if the floating levels period
      is set to <= 1, the levels will be ignored and the coloring
      automatically switches to coloring on slope)
    • has a choice of different color changes to help in decisions – color change on slope change, middle level cross or outer level cross
    • same setting is used by the alerts that are already part of the indicator
    • and it is multi time frame

    Usual
    set (22 types) of prices can be explored and the usual set of alerts (messages,
    sounds, emails, push notifications – on still opened or already closed
    bar)

    The  “speed” parameter of the qwma that can be experimented with. The common settings :

    • 0 – for simple moving average
    • 1 – for linear weighted moving average
    • 2 – for “quadratic” weighted moving average
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    But
    since the “speed” does not have to be integer, all the values between
    those values and values larger than those values can be used, and that
    makes it a limitless number of some sort of new average types (the
    calculating period is never changed)

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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