Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

Indicators

Double smoothed Wilders EMA - indicator for MetaTrader 5

Mladen Rakic

Views:
733
Rating:
votes: 12
Published:
2019.01.10 19:35
Updated:
2019.01.10 21:06

Theory :

Welles Wilder was frequently using one "special" case of EMA (Exponential Moving Average) that is due to that fact (that he used it) sometimes called Wilder's EMA. The difference from EMA is the following :

EMA formula = price today * K + EMA yesterday * (1-K) where K = 2 / (N+1)

Wilder EMA formula = price today * K + EMA yesterday (1-K) where K =1/N

Where N = the number of periods.


One more property that is not visible from the above formulas is that the Wilder's EMA is equal (value wise) to Smoothed Moving Average (SMMA) even though the calculation is different.This version is adding double smoothing to Wilder's EMA in order to make it "faster" (it is more responsive to market prices than the original) and is still keeping very smooth values

Usage :

It can be used as any regular moving average


PS:

A comparison of DS Wilder's EMA (colored line) and SMMA (gray line)


TRIX (fast EMA) TRIX (fast EMA)

TRIX (using fast EMA for calculation)

MACD of RSI adaptive EMA - with floating levels MACD of RSI adaptive EMA - with floating levels

MACD of RSI adaptive EMA - with floating levels

Simple Server Clock Simple Server Clock

A very simple, efficient and non-obtrusive clock for your Chart. KISS compliant! :)

RSI with double smoothed Wilders EMA RSI with double smoothed Wilders EMA

RSI with double smoothed Wilders EMA