Demark Daily Range Projection Moving Average with Direction Colors

Summary

This document describes a moving average based on Demark’s Daily Range Projections method. It adds a simple visual cue: the line is green when the average rises and pink when it falls, making direction easier to see on a chart.

The note identifies an MQL4 implementation published in 2008 and says the MQL5 version relies on classes from a separate smoothing library. It does not explain the projection calculation, define the averaging parameters, or provide trading rules, performance results, or risk analysis. The color change signals the average’s direction only; by itself, it does not establish a buy or sell strategy.

Key ideas

• The moving average is based on Demark’s Daily Range Projections method.
• Its color changes with direction, using green for a rise and pink for a fall.
• The document gives no detailed calculation rules or evidence of trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.