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Double EMA

Double Exponential Moving Average (DEMA) is a well-known trend indicator. DEMA was developed by Patrick Mulloy and published in February 1994 in the "Technical Analysis of Stocks & Commodities" magazine. It is used for smoothing price series and is applied directly on a price chart of a financial security. Besides, it can be used for smoothing values of other indicators. The advantage of this indicator is that it eliminates false signals at the saw-toothed price movement and allows saving a position at a strong trend. (Reference: MT5 Help Topics)

Input Description:

  • period: MA's period. Must be higher than 1.
  • applied_price: Define the price to be applied. Use 1 of these integers
    • 0 -> applied_price is Close Price
    • 1 Open price
    • 2 High price
    • 3 Low price
    • 4 Median price
    • 5 Typical price
    • 6 Weighted Typical price
  • shift: give an additional offset for the signal. Must not be higher than period.

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Version 1.10 2019.02.03
Off-by-one bug fix at the most left of the chart (like in 14-period indictors, it must start at 14th bars).