You can create a moving average of an indicator using the "Add a Function" control or directly by typing some code. Both solutions are presented here.
Steps:
- Open a chart, add a new pane then click on "Add Indicator" icon (How to add a trading indicator to a chart)
- Select "All Indicators" tab then type "SMA" in search input box
- Select the second "Simple Moving Average". This version allows you to specify the time-series you would like to apply; otherwise, the close time-series is used.
- In "Param" table, click on the "+" icon in the "Close" row to open a new "Add a Function" control.
- Select another indicator in the new control (Example: Relative strength index - RSI) then click on "OK". The "close" parameter is now replaced by the RSI formula.
- Click on "OK" to add your new trading indicator
You have just added a smoothed version of the relative strength index (Moving average applied to RSI)
To display the formula that has just been created, right click on your pane then select "Edit Formula". (Select "Sma" formula in case you have many formulas added to your pane)
a = Sma(Rsi(14),14);
Plot(a, "Sma", colorBlack, chartLine, StyleSymbolNone);
You could have just typed the above lines instead of performing the steps described above.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
