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The Smooth Price technical indicator is used to build a smooth line as close as possible to the price of a trading instrument and serves to eliminate its noise components. The indicator is part of the Monarch trading system, but here it is presented as an independent tool of technical analysis.

The indicator is based on a cluster digital filter, which , unlike the ClusterSMA project, is applied directly to the price timeseries. Smooth Price is not redrawn (except for the most recent zero bar) and is an improved version of the well-known indicator of the samename . The features of indicators based on cluster filters are discussed in the author’s blog.

1. Main setting (basic configuration):

  • Sensitivity – the sensitivity of the indicator, can take values from 0 to 255.

The highest sensitivity at zero – the indicator exactly repeats the price movement. The lowest sensitivity at the value of 255-the indicator algorithm tries to eliminate the noise movements of the price as much as possible. By default, it is set to 0. The maximum limit of 255 is associated with the” heavy ” calculation part of the cluster filter.

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2. Appearance (appearance):

  • Max bars in chart – the maximum number of bars calculated and displayed in the indicator window when it is started or recalculated. The default value is 256 bars. This significantly speeds up the preparation of the indicator, including during testing. If the parameter value is zero, the indicator is calculated on the entire available history. The minimum number of displayed bars is three.
  • Recalculation of the last bar-allows you to select the mode for recalculating the last incomplete bar. By default, the Every tick mode is set. There are three options to choose from:
    • Every tick – on the last incomplete bar, the indicator recalculates each tick. It is recommended to use this mode if the indicator readings are important on this bar.
    • Every new minute bar-on the last incomplete bar, the indicator is recalculated only when a new bar is opened on the minute timeframe. It is recommended to use this mode on timeframes longer than one minute. This allows you to reduce the load on the processor and at the same time track changes in the indicator reading once a minute.
    • Every new bar-on the last incomplete bar, the indicator is recalculated only when a new bar is opened on the current timeframe. Often, the indicator values on this bar are not taken into account when determining the signal for the trading system. By selecting this option, you can significantly reduce the indicator calculation time, including when testing strategies.
  • Color up – the color of the line up.
  • Color down – the color of the line down.
  • Width – the width of the line .
  • Style – the style of drawing the line. If the “Width” value is set to 1, in addition to a solid line, you can select a Broken line, a Dotted line, a Dash-dot line, or a Dash-two points line.
  • Every tick – on the last incomplete bar, the indicator recalculates each tick. It is recommended to use this mode if the indicator readings are important on this bar.
  • Every new minute bar-on the last incomplete bar, the indicator is recalculated only when a new bar is opened on the minute timeframe. It is recommended to use this mode on timeframes longer than one minute. This allows you to reduce the load on the processor and at the same time track changes in the indicator reading once a minute.
  • Every new bar-on the last incomplete bar, the indicator is recalculated only when a new bar is opened on the current timeframe. Often, the indicator values on this bar are not taken into account when determining the signal for the trading system. By selecting this option, you can significantly reduce the indicator calculation time, including when testing strategies.

3. Alerts (Signals).

  • Bar of alert – the number of the bar on which the signal is checked (0 – the last incomplete bar). Signals are sent when the trend of the indicator line changes. If the “Bar of alert” is greater than 0, the signal will only be triggered if the indicator moves in the same direction on the specified bar and on all subsequent bars. Thus, the signals are sent only when the trend is stable, and are ignored in all other cases in order to reduce false positives.
  • Sound – enables / disables the sound signal.
  • Log-a message about the signal is printed to the log.
  • Alert-a sound signal is sounded, a message about the signal is displayed in the log and in the dialog box that opens.
  • Mail-sends an email about the signal to the address specified in the terminal settings window on the “Mail” tab.
  • Notification-sends a notification to mobile terminals whose MetaQuotes IDs are specified in the terminal settings window on the Notifications tab.

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Published

14 January 2016

Updated

12 February 2019

Current Version

2.4

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Tarun Chaudhry February 28, 2021 5:10 pm
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I locate this signal great.\n\n Ofcourse it has to be within a approach.\n\n The article author was very helpful to type out issues and clarfications. Even gone as far as to examine customizations.\n\n Happy client on this page.\n\n PS: I got myself another product or service from him and offering him the identical evaluation there.