Xena Pro Indicators

All indicators described in this branch are included in the desktop terminal Xena Pro. You can add them to the chart through the following steps:

  1. Open the chart in the terminal

  2. Right-click in the chart area and choose “indicators -> add indicators”

  1. Select the indicator from the Xena Pro Indicators list


Corrected average indicator


Description


The corrected average is a modified version of the simple moving average. The main advantage of this indicator is that it takes volatility into account. The calculation includes a volatility threshold, which doesn’t allow the corrected average line to change its value if the market is considered non-trend. Therefore, the corrected average changes only if the market is volatile.


Parameters


  • ColorMode – changes the colors of the lines (uptrend: green, downtrend: red, flat: white) 

  • Period – a lookback period of the CA

  • PriceType – the type of price to be used in the calculations (Open, High, Low, or Close) 


ColorMode on





ColorMode off



Formula

  1. Calculate the squared volatility (standard deviation) of the instrument for the period of the indicator.

  2. Calculate the threshold, which is equal to the square of the difference between the current SMA and the corrected average value (for the first candle, the corrected average is equal to the value of the selected candle parameter – high, low, close, or open).  

  3. Calculate the k-coefficient, which is  (1 - squared volatility / squared SMA-CA difference).

  4. If the squared volatility value is greater than the squared SMA-CA difference, then we can add the k-coefficient to the corrected average; otherwise, the CA is equal to its previous value.


Tips

  • The corrected average may be used for both trend and flat markets. In trend markets, it should be used as a trigger for trend reversal. If the value of the indicator remains unchanged for a long time, it means the market is in a flat state.  

  • CA may be a great choice to filter counter-trend trades, if you prefer trend strategies.



Xena corrected average


Description


The Xena Corrected Average is a modified version of the Corrected Average. The main feature of the indicator is that it’s adapted to counter-trend movements. It simply changes the candle source of calculation to high during downtrends and low during uptrends.


Parameters

  • ColorMode – changes the colors of the lines (uptrend: green, downtrend: red, flat: white) 

  • Period – a lookback period of the CA


ColorMode on




ColorMode off



Tips

  • Switching the calculation source helps avoid false signals and gives the trader a bit more time to make an appropriate decision.