The Smoothed Hull Moving Average indicator for Metatrader 4 and was initially created by Allan Hull.
The indicator is essentially the Hull Moving Average or the HMA and it is used in spotting current market trend.
The curve of the indicator is significantly smoother and follows the price activity much closer.
Traders use this indicator for scalping, day trading and swing trading.
Usually, when more days are added to moving averages they tend to get more lag.
The Smoothed Hull Moving Average indicator was able to resolve this by adding more weight to the moving average.
The Smoothed Hull Moving Average indicator can be deployed just like the Aroon and ADX indicator, in a manner that allows it spot dominant trend.
When the curve of the indicator is surging, the dominant trend is surging as well, while when the curve is dipping, the dominant trend is also dropping as well.
There’s also a color notification that alerts traders to buy when the line changes to line and sell when the line changes to red.
In respect to its timely nature, the indicator is good at spotting market turning points.
The equation for the Hull moving average is shown below:
Integer (Square Root (Period)) WMA [2 x Integer (Period/2) WMA (Price) – Period WMA (Price)]
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (period, method, price), Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend, momentum
How to install the Smoothed Hull Moving Average custom indicator in Metatrader 4?
- Download the Smoothed Hull Moving Average indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.