With all the indicators I've tried and tested over the years the moving average remains the one with no flaws. Sure it lags, sure there is a non lag moving average which still lags some, but the moving average never varies from real price like macd, or stochastic, or dmi, or trendanything. I think the use is in finding a way of using the moving average that is good for you.

The one indicator I think rivals it is the heikin ashi. The mt4 indicator that has a moving average of heikin is great, but does not show up accurately where the price is (can be as much as 50 pips away from price) so its very hard to determine exit entry points. Great for seeing the direction, but you need more than that.

Can someone code a heikin that simply has an adjustable smoothing option so the candles will show up where price actually is? That would be very advantageious.

If you want to see price action while using heikin ashi, you can try this.

Attached Files

Heiken Ashi_SW.mq4 (3.9 KB, 94 views)

Thanks for that. What I'm suggesting though is an actual heikin candle that is smoothed and shows accurately on the chart. The moving average of Heikin is great but the candles show up far away from price, and the SW is useful for sure but just a histogram.

Any coders out there?