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Improved EMA for Metastock
Rating:
5 / 5 (Votes 1)
Tags:
metastock, moving average
Improved Exponential Moving Average with crossover signals output choice.
Author: Jose Silva at metastocktools.com
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Indicator / Formula
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{ Exponential Moving Average v2.3
EMA periodicity shortens on low bar count
©Copyright 2005-2006 Jose Silva.
For personal use only.
http://www.metastocktools.com }
{ User inputs }
pds:=Input("EMA periods",1,2600,21);
x:=Input("use Open=1 High=2 Low=3 Close=4 WClose=5 P=6",1,6,4);
shift:=Input("EMA vertical shift %",
-100,100,0)/100+1;
plot:=Input("[1]EMA, [2]Crossover signals",
1,2,1);
{ EMA }
x:=If(x=1,O,If(x=2,H,If(x=3,L,If(x=5,WC(),If(x=6,P,C)))));
pds:=If(pds>Cum(IsDefined(x)),
Cum(IsDefined(x)),pds);
Ema:=x*2/(pds+1)+PREV*(1-2/(pds+1));
Ema:=Ema*shift;
signals:=Cross(x,Ema)-Cross(Ema,x);
{ Plot on price chart }
If(plot=2,signals,Ema)
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is this only for meta stock?
Yes this is only for metastock.