The most-used technical indicator must be the moving average. However, the trading world seems to have forgotten 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 in 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.
Please consider purchasing Moving Median Pro (the "Pro" version of this indicator) for valuable advanced features: input smoothing, plot change filter, bar colorizing, background painting, marker printing, alerts (popup, sound, email/SMS).
Key features:
- Plot moving median with configurable period
- Colorize plot to show 2 phases: uptrend vs downtrend
- Be NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals
Dedicated NinjaScript signals:
- Signal_Trend: 1 = uptrend, -1 = downtrend
Media
- 17 Aug 2021 - Massive changes, fixes, and improvements were made (display name, Z order, bar painting); the logics of trend state, plot colorizing, bar painting were improved; all plot values were rounded to the nearest tick size.
- 27 Sep 2018 - The indicator was re-exported to be compatible with recent changes of the platform; the toolbar menu was removed.
- 28 Sep 2017 - The indicator was re-exported to be compatible with recent changes of the platform.
- 02 Sep 2016 - Setting groups were reordered; the indicator was re-exported to be compatible with recent changes of the platform.
- 02 Jul 2016 - Fractional price format was added (for ZB, ZF, ZN...).
- 29 Mar 2016 - The indicator was released (converted from its NT7 version).
- 20 Nov 2022 - The indicator renamed from Moving Median to Moving Median 4U.
- 02 Mar 2015 - The indicator was improved so that it can be used in Market Analyzer, Strategy Wizard and can be called by other indicators, strategies.
- 10 Oct 2014 - Pro Colorizer was integrated.
- 10 Sep 2014 - The indicator was released.
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