Complete No Lag WMA Indicator for MT4

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Introduction to the Complete No Lag WMA Indicator

Most moving average lines tend to be too lagging. The Complete No Lag WMA Indicator was developed to produce a moving average line with minimal lag. At the same time it also plots a moving average line which has a smoothening effect.

What is the Complete No Lag WMA Indicator?

The Complete No Lag WMA Indicator is a modified moving average indicator which is based on the Weighted Moving Average (WMA) Indicator.

It plots a Weighted Moving Average line which characteristically has less lag compared to the regular Linear Weighted Moving Average (LWMA) line. It also has a smoothened out moving average line which is less susceptible to price spike movements.

How the Complete No Lag WMA Indicator Works?

The Complete No Lag WMA Indicator uses a formula which modifies the basic Simple Moving Average (SMA) formula. It multiplies a weighting factor with price and gradually decreases the weighting factor on prior price periods.

Weighted Moving Average = (Price x Weighting Factor) + (Previous Period Price x Weighting Factor – 1) + … (n Previous Period Price x Weighting Factor – n periods)

How to use the Complete No Lag WMA Indicator for MT4

The Complete No Lag WMA Indicator has two variables which can modify the characteristics of the line it plots.

The “period” variable refers to the number of periods used to compute for the moving average line.

The “price” variable refers to the price point used for the computation of the moving average line. It could either be the Open, High, Low, Close, Median Price, Typical Price, or Weighted Price.

This indicator can be used just as most moving average indicators are used.

It can be used to identify trend direction based on its slope and where price is in relation to the moving average line.

It can also be used as an area of dynamic support and resistance for trading pullbacks on a trending market.

However, since this moving average line is very responsive to price movements, it works best as the faster moving average line component in a moving average crossover trend reversal setup. Still, just as with most moving average crossover setups, it is also best traded in confluence with other technical analysis indications.

When to Enter?

Pair the Complete No Lag WMA line with another moving average line. Open a buy order as the Complete No Lag WMA line crosses above the other moving average line. Set the stop loss on the support below the entry candle.

When to Exit?

Close the trade as the Complete No Lag WMA line crosses below the other moving average line.

When to Enter?

Pair the Complete No Lag WMA line with another moving average line. Open a sell order as the Complete No Lag WMA line crosses below the other moving average line. Set the stop loss on the resistance above the entry candle.

When to Exit?

Close the trade as the Complete No Lag WMA line crosses above the other moving average line.

Conclusion

This indicator does have the potential to produce moving average crossover trades with decent yields. However, it would not always be accurate especially during choppy market conditions. As such, it is best traded in confluence with other technical analysis indications.

Complete No Lag WMA Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.

Complete No Lag WMA Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

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How to install Complete No Lag WMA Indicator for MT4.mq4?

• Copy Complete No Lag WMA Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
• Select Chart and Timeframe where you want to test your MT4 indicators
• Right click on Complete No Lag WMA Indicator for MT4.mq4
• Attach to a chart
• Modify settings or press ok
• Indicator Complete No Lag WMA Indicator for MT4.mq4 is available on your Chart

How to remove Complete No Lag WMA Indicator for MT4.mq4 from your Metatrader Chart?

• Select the Chart where is the Indicator running in your Metatrader 4 Client
• Right click into the Chart
• “Indicators list”
• Select the Indicator and delete