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The most-used technical indicator must be moving average. However, the trading world seems to have forgot its brother which is mathematically a better measure of central tendency: moving median.
The concept of “moving” is the same. So, what is “median”? It is the one that stands exactly at the middle of a sorted series (if a series is unsorted, we have to sort it first). If a series has an even number of elements, its median is the average of the 2 middles. For example, the median of the series “3, 8, 12, 25, 31” is 12; the median of the series “3, 8, 12, 25” is (8 + 12)/2 = 10.
Why does a median measure central tendency better than an average? Because an average is much more sensitive to outliers, which are extreme values often observed at spike bars. Moving median tends to be a smoother and more stable plot.
ninZa.co is one of the only vendors that provides an accurate and professional moving median indicator. No trading platforms offer a built-in moving median indicator, except Interactive Brokers.
- Plot moving median with configurable period and optional smoothing (9 popular moving-average types)
- Colorize plot based on slope (rise, fall, flat)
- Colorize bars optionally based on plot color or relative position of price to plot
- Be NinjaScipt ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScipt signals NT8 only
- Can be used in Market Analyzer
- Can be used in Strategy Builder
- Can be used in BloodHound
- Can be used in 3rd-party indicators, strategies, products
- Professional & clean signature for easy calling
Dedicated NinjaScipt signals:
- Signal_State: 1 = price above moving median, -1 = price below moving median
- Instruments: CFDs, forex, futures, indices, options, stocks
- Interval types: timebased or non-timebased, standard or custom
- Chart styles: whatever
- Ready to use out of the box
- Fully configurable & customizable with ease
Please read Installation Guide for details.
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