Introduction to the Holt Double Exponential Smoothing Indicator
The Holt Double Exponential Smoothing Indicator is a custom forex trend momentum indicator.
It is mainly used for forecasting, not as an average. The forecasting method usually used with it is a sort of linear forecasting.
Simply look for buy trades when the signal line is green color, and similarly, look for sell trades when the signal line is orange color.
We suggest to to use it in conjunction with some confirmation filters.
It fits all kinds of timeframes and currency pairs.
The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Holt Double Exponential Smoothing indicator in MT4?
Copy and paste the holt-double-exponential-smoothing.mq4 or holt-double-exponential-smoothing.ex4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, that goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
Click the link below:
The Holt Double Exponential Smoothing indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, it will provide false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.