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Running Median Indicator for MT4 – indicator for MetaTrader 4

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Old 20-03-2018, 21:34
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Default Running Median Indicator for MT4 – indicator for MetaTrader 4

Running_Median_Indicator.png

This indicator computes the median of odd span. The median is described as the numerical value separating the higher half of a sample, or a probability distribution, from the lower half. It is often considered as one of the most robust smoothing operator in the presence of outlier values, and particularly more robust than the mean.

Calculation of medians is a popular technique in summary statistics and summarizing statistical data. A very nice property of the median is that the distance between the median and the mean is bounded by one standard deviation. The median is also a non-lagging operator.

The paradox is that it is almost impossible to find the median indicator in trading softwares. Moreover, straightforward implementations rely on array sorts, which is a very slow operation that does not scale up to long timeseries.

I therefore designed this running median operator which is incremental and therefore very fast. It is under the GNU public license.

How to install Running Median Indicator for MT4 – indicator for MetaTrader 4.mq4?


    Download Running Median Indicator for MT4 – indicator for MetaTrader 4.mq4
    Copy Running Median Indicator for MT4 – indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
    Start or restart your Metatrader 4 Client
    Select Chart and Timeframe where you want to test your MT4 indicators
    Search "Custom Indicators" in your Navigator mostly left in your Metatrader 4 Client
    Right click on Running Median Indicator for MT4 – indicator for MetaTrader 4.mq4
    Attach to a chart
    Modify settings or press ok
    Indicator Running Median Indicator for MT4 – indicator for MetaTrader 4.mq4 is available on your Chart

How to remove Running Median Indicator for MT4 – indicator for MetaTrader 4.mq4 from your Metatrader Chart?


    Select the Chart where is the Indicator running in your Metatrader 4 Client
    Right click into the Chart
    "Indicators list"
    Select the Indicator and delete

Click here below to download:

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