Weighted Moving Average
Weighted Moving Average
First, we have to calculate the following:
After this, we can calculate the "Weighted Moving Average" by using the following formula:
where:
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"Price" can be Close, Open,
High, Low, HL MidPoint, HLC MidPoint
or HLCO MidPoint and
"N" is the number of chart points used in the calculation of moving average. The period of time is given as number chart points and is called "Length" |
From "Indicator Properties" you can change the settings for indicator:
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You can set line thickness, color and style. The "Price" used in the construction of indicator can be: Close, Open, High, Low, HL MidPoint, HLC MidPoint or HLCO MidPoint. From "Length" you can change the number of points that are used in the moving average.
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