This indicator returns a moving average converging toward the price the more a trend makes new higher-highs or lower-lows depending on the detected trend.
Settings
Length: Controls the initial moving average smoothing factor (2 / (Length + 1)), as well as the period of rolling maximums/minimums.
Increment: Smoothing factor increment (2 / (Increment+ 1)) for new higher-high/lower-low, lower values would return a faster converging moving average.
Fast: Fast moving average smoothing factor.
Usage
The proposed moving average can be used like most slow moving averages.
Having a moving average able to converge closer to the price the longer a trend lasts allows users to obtain more timely crosses. This practice can remind us of the Parabolic SAR or our TRAMA indicator:
My favorite MA by far, phenomenal work. Best use I found is by using a 200 EMA for trend then only take positions after 1 candle confirmation crossing the MACov or if the cross from the initial candle is a decent amount (subjective). Any recommendations to improve this or different ideas to use it? Note: Haven't noticed repainting on the replay function and I'm using default settings for what I described above.