Exponential Average of True Range and Deviation Offset

Summary

The document describes a technical indicator that plots an exponential moving average of true range together with an offset based on the exponential moving average of deviations. This combines a smoothed measure of price range with a related measure of how that range departs from its average. The text identifies the plotted quantities but does not specify the deviation formula, offset scaling, input settings, or how traders might interpret the indicator’s signals.

The implementation is stated to compile in both MQL4 and MQL5, making it portable between those trading-platform language versions. No chart examples, market tests, comparisons, or performance evidence are included. As a result, the document offers a concise description of an indicator calculation, not evidence that it predicts prices or improves trading outcomes. Its use would depend on inspecting the calculation and evaluating it on suitable data.

Key ideas

• The indicator plots an exponential moving average of true range.
• It also plots an offset derived from an exponential average of deviations.
• The implementation is intended to compile in both MQL4 and MQL5.
• The document does not provide a formula, trading rules, or performance evidence.

Tags

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