that would be great, if it could possibly have an arrow at the cross and an audible alert. I looked every where for one and found many but none with the shift facility.
i am a bit unclear why you would need to have an arrow at the actual cross of the two linear weighted moving averages, my thinking is that between your hearing an audio alert and being able to see the actual values of the two lwma's on screen should be more than adequate.
my first thoughts are that i would like to do this right, and for me that means that i will manually design your linear weighted moving average itself, from scratch, instead of trying to just use some lwma that is prepackaged with the metatrader system.
this wont take too very long, it shouldnt take me more than a few hours.
also, just to confirm, we are doing this in metatrader? which broker are you using, if you dont mind saying?
Linear weighted moving average or LWMA is a moving average tool which assigns more value to current prices and thus more responsive to latest price trends. It is less popular than simple moving average or SMA and exponential moving average or EMA. Like EMA, LWMA was also created to overcome the lagging associated with simple moving average.
Like exponential moving average, linear weighted moving average more weight to latest data, but unlike EMA this value is in linear progression (e.g.: 1, 2, 3…). Fore example in a 5-day LWMA, first day closing price is multiplied by 1, second day by 2… and latest day (5th day) by 5. Then the results are added and divided by the total weighting values (1+2+3+4+5=15). Thus the current prices get more weight at the expense of older prices. LWMA better suits as long-term indicator as the significance of weighting increases with time frame.
Linear weighted moving average is used just like EMA, most traders use LWMA together with simple moving average. Buy and sell signals can be generated at moving average breakouts and crosses. Trends are confirmed when SMA and LWMA moves in same direction.
The reason I want an arrow or visible marker is that I may be using the same moving lwma average, 89 in this case and use 1 with 0 shift and the other with shift +8 these averages will get very close to each other at times and it will be difficult to tell if they have actually crossed visually, therefore the need for markers of some sort.
once i confirm that my method of calculating this thing is being done properly, then i will add the second lwma into the mix and then we will add the arrows and alerts and whatnot...
Here you go, for lwma fast ma method and slow ma method = 3. Also meant to add the moving averages in metatrader is one thing they did right, so no need to pay for custom built ones you will find they are exactly the same.
Here you go, for lwma fast ma method and slow ma method = 3. Also meant to add the moving averages in metatrader is one thing they did right, so no need to pay for custom built ones you will find they are exactly the same. {file} {image}
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Hi Mr Tools,
Is it possible to set this indicator to test for the MA crossover at the end of the bar (or start of the next). It is very useful thanks, but if i could work out how to do this it would be even better
One other question - is there a way to show the name of each MA in the data window? At the moment they come up as value 3 & value 4. Update - figured out how to do this part.
