This indicator calculates 3 Moving Averages for default values of 13, 8 and 5 days, with displacement 8, 5 and 3 days: Median Price (High+Low/2).
The most popular method of interpreting a moving average is to compare the relationship between a moving average of the security's price with the security's price itself (or between several moving averages).
This is incorrect: the indicator uses Smoothed Moving Average (SMMA), not simple MA.
This indicator is primarily used to determine whether the current wave is impulse or corrective. It was created by a supercomputer (model parameters generated from data). Thus SMMA is needed or the model won't work right.
HPotter
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I can make changes if you to write formula how it should be.
the_batman
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That'd be greatly appreciated. TV's version of the alligator is also wrong. I don't think TV has the SMMA moving average function, so you'd have to code it yourself. The formula is here: www2.wealth-lab.com/WL5Wiki/SMMA.ashx
This indicator is primarily used to determine whether the current wave is impulse or corrective. It was created by a supercomputer (model parameters generated from data). Thus SMMA is needed or the model won't work right.