Generalized Step Moving Average w/ Pips Filter [Loxx]

10 Sep 2022

Generalized Step Moving Average w/ Pips Filter [Loxx] is a stepping function on source input to derive a moving average. This general form the stepping can also be applied to any other input such as EMA, SMA, HMA, WMA, etc.. This moving average employ a filtering system based on the following:

Core filter, both min and max value: pips * (multiplier) or the (average of momentum) * (multiplier).
Post processing filter: pips * (multiplier)

These filtering options require trend to shift by the above values before changing direction thereby reducing noise and yielding a better defined trend.

Things to note

• This indicator requires fine tuning to make it work on all tickers. If you place this on a chart and it shows all green or red candles, then you must adjust the indicator to coincide with the pip movement of that ticker.
  
• This indicator can be used on any timeframe.
  

Included

• Bar coloring
  
• Signals
  
• Alerts
  
• Loxx's Expanded Source Types