I need to calculate EMA in excel for backtesting. The formula for MT4 help topics is:
EMA = (CLOSE(i) * P) + (EMA(i - 1) * (100 - P))
CLOSE(i) — the price of the current period closure;EMA(i-1) — Exponentially Moving Average of the previous period closure;
P — the percentage of using the price value.
a) Does anyone what value MT4 assigns to 'P'
b) Also I need Previous period EMA. How do I get that for my starting point
Thanks a lot