Multiple Moving Average Wave

The MA Wave, or Multiple Moving Average Wave indicator, includes the EMA(34) Wave as introduced by Raghee Horner in her book “Forex Trading for Maximum Profit”  published in 2007. Horner’s EMA(34) Wave was calculated using a EMA(High, 34), EMA(Close, 34) and a EMA(Low, 34).

Indicator Description

The Multiple Moving Average Wave indicator offers a selection of 30 different moving averages that can be used for calculating the Wave. The default is set to EMA in line with the original indicator as presented by Horner. However, our Moving Average Wave version calculates using EMA(High, 34), EMA(Median, 34) and the EMA(Low, 34).

Furthermore, one may customize the Wave bands using the indicators multiplier function. The default value of 1 creates the Wave using the High and Lows of the chose lookback period.

The indicator is available for NinjaTrader 8.