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The McGinley Dynamic Indicator was designed by John C. McGinley in the 1990s and developed to improve the performance of Simple Moving Averages (SMA) in technical analysis.
The McGinley Dynamic uses a complex formula to automatically react to changes in market speed.
McGinley Dynamic Indicator Specifications
The specifications of the McGinley Dynamic Indicator are shown in the table below:
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Indicator Categories:
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Support & Resistance MT5 Indicators
Volatility MT5 Indicators
Trading Assist MT5 Indicators
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Platforms:
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MetaTrader 5 Indicators
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Trading Skills:
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Elementary
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Indicator Types:
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Reversal MT5 Indicators
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Timeframe:
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Multi-Timeframe MT5 Indicators
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Trading Style:
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Day Trading MT5 Indicators
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Trading Instruments:
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Forex MT5 Indicators
Crypto MT5 Indicators
Stock MT5 Indicators
Indices MT5 Indicators
Forward MT5 Indicators
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Indicator in an Uptrend
In the 30-minute GBP/USD chart, the price crosses the moving average and enters an uptrend. This level then acts as a key support and helps stabilize the uptrend.
Indicator in a Downtrend
In the USD/CHF price chart, the price breaks the McGinley moving average and enters a downtrend.
Subsequently, the price encounters this area again, forming dynamic resistance, preventing further price growth.
McGinley Dynamic Indicator Settings
The settings for the McGinley Dynamic Indicator are shown in the image below:
- Number of Bars: The number of candles used for calculation
- Periods: The number of periods for calculating the dynamic moving average
- Smoothing: Adjusting the smoothing level to reduce fluctuations and soften the indicator line
Conclusion
The McGinley Dynamic Indicator provides an adaptive moving average that reacts to the speed of market changes.
This MT5 trading assist Indicator, by reducing lag and filtering out some of the price noise, creates favorable conditions for identifying entry and exit points.
When is the McGinley Dynamic Indicator used?
This indicator is used for trend analysis, identifying dynamic support and resistance levels, filtering out price noise, and identifying entry and exit points.
Is the McGinley Dynamic Indicator multi-timeframe?
Yes, the McGinley Dynamic Indicator performs well in all timeframes, including short-term (e.g., 5 or 15 minutes) and long-term (e.g., daily or weekly) charts, and it is customizable for various strategies.