This is another adaptation of the HMA. Big Mike built a similar indie years ago for NT7 and it was based on the EMA. I like the HMA because it hugs price better and changes direction sooner. This indie paints 2 HMAs that trail the primary HMA by x candles. This HMA can be smoothed by an EMA of 1 or greater periods. In addition you can color the background based on the slope of the HMA. As with many of my recent indicators, they only calculate what is on the screen. The indie will not show if you scroll back until you hit F5 to recalculate. There is a button on the axis to hide the indicator, so you can bring it into view, evaluate and hide it to declutter your chart. You can add a few characters to the button to differentiate from other indicator buttons.
In the pic is an HMA34, Smoothed by 2 and with the wave 3 bars back.
Trade Well
Bob
r1 (1/23/2021) Max Value for Smooth and HMAback were limited to 100, now open.
r2 (2/11/2021): I don't use Bloodhound or other automated tools, but one user found that this indie does not work with Bloodhound. I found that the problem is with the calculations limited to what is on screen... I found the issue and it is an easy fix. In the zip are two indicators. HMAwaveSmooth is the original that only calculates what is on the screen and HMAwaveSmoothFull calculates the entire history and works with Bloodhound. I will add a new version of all of the indicators that I have posted that have the calculation limiter in a similar manner.
r3 (7/8/2021): changed the description of "Smooth" in the user panel to "Smooth(EMA)" as this is actually the EMA of the HMAwave. By minimizing the HMA, the wave becomes an EMA wave. The HMA can only be set to a minimum of 2, as it is limited by the NT8 HMA function. Both the original and the "Full" version are in the zip.
final rev?: An FIO trader contacted me to add arrows to the swings. In this rev, I added the arrows and also added a filter which is another (larger) HMA. I also added Sound. The filter does not plot, so if you want to see it, you can add another HMA indie. In the pic is a GC 10R chart with the HMAwave set to Period 21 and the filter HMA set to 144. You can disable the Filter and the Sound.
Category NinjaTrader 8 Indicators and More
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