MWDX Average is a type of Exponential Moving Average. The user may change the input (close) and factor (.2). This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using MWDX Average
MWDX Average may be used in conjunction with other indicators. No trading signals are given.
How To Access in MotiveWave
Go to the top menu, choose Study>Moving Average>MWDX Average
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
Important Disclaimer: The information provided on this page is strictly for informational purposes and is not to be construed as advice or solicitation to buy or sell any security. Please see our Risk Disclosure and Performance Disclaimer Statement.
//input = price, user defined, default is close
//fac = user defined, default is .2
//prev = previous, index = current bar number
value2 = 2/fac -1; factor = 2 / (value2 + 1); prevMwdx = isNull(price, Mwdx[index-1]); Plot: mwdx = factor * price + (1 - factor) * prevMwdx;