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2012.11.21 08:19

TEMA Band - indicator for MetaTrader 5

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votes: 14
temab.mq5 (4.73 KB)view

Triple Exponential Moving Average Band is an indicator similar to Bolinger Band.

The difference is it is based on Triple Exponential Moving Average (TEMA). Compared with BB, the current indicator is more symmetric: the middle line is closer to price movement, and the upper/lower bands evenly placed.

When the upper/lower band is too far from center line, it is a potential reverse signal. 

There are three input parameters:

  1. EMA Period
  2. Shift
  3. Deviation (for calculating the distance between TEMA and upper/lower bands)



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