Forex McGinley Dynamic Expert Advisor Setup - Setting Up McGinley Dynamic Expert Advisor

Forex McGinley Dynamic Expert Advisor Setup - Setting Up McGinley Dynamic Expert Advisor - A Forex trader can come up with an McGinley Dynamic Expert Advisor based on the McGinley Dynamic indicator explained below.

Forex McGinley Dynamic Expert Advisor rules can be combined with other Forex trading indicators to come up with other EA Forex Robots that trade using rules based on two or more indicators combined to form a forex trading system.

McGinley Dynamic Technical Analysis and McGinley Dynamic Forex Trading Signals

Developed by John McGinley

McGinley Dynamic aims to overcome the lag of the traditional simple and exponential moving averages, the indicator automatically adjusting itself relative to the speed of the forex market. Thus its name, dynamic.

The indicator follows price movements closely in both a fast and a slow moving forex market.

Forex McGinley Dynamic Expert Advisor Setup

Technical Analysis and Generating Signals

This indicator is better at avoiding whipsaws compared to the original moving average.

Calculated using the formula:

Dynamic = D1 + (Price - D1) / (N * (Price/D1)^4)

D1 = previous value of Dynamic indicator

N = smoothing factor (of price periods)

^ = Power of

Bullish, Buy Signals and Bearish, Sell Signals

McGinley Dynamic should be combined with moving averages to form a Forex trading system. McGinley Dynamic should be used as the smoothing mechanisms where the moving average is choppy or ranging.

• Bullish, Buy Signal - A buy signal is generated when price is crosses above the indicator.
• Bearish, Sell Signal - A sell signal is generated when price is crosses below the indicator.

Technical Analysis - Forex McGinley Dynamic Expert Advisor Setup