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Triple or Double Exponential Moving Average (DEMA or TEMA) for Metastock
DEMA and TEMA are unique smoothing indicators developed by Patrick Mulloy. TEMA was originally introduced in the January 1994 issue of Technical Analysis of Stocks & Commodities magazine. The inherit problem with normal moving averages is the lag that increases as the moving average length increases. One solution to reduce this lag is a modified version of exponential smoothing with less lag time. TEMA is an acronym that stands for Triple Exponential Moving Average. HOWEVER, the name of this smoothing technique is a bit misleading in that it is not simply a moving average of a moving average of a moving average. It is a unique composite of a single exponential moving average, a double exponential moving average, and a triple exponential moving average that provides less lag than either of the three components individually.
Source: equismetastock[at]yahoogroups[dot]com
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Indicator / Formula
{Plots either a DEMA or TEMA}
Plot:= Input("Display [1] Dema[2] Tema",1,2,2);
Period:= Input("What Period",1,250,10);
EMA1:= Mov(C,Period,E);
EMA2:= Mov(EMA1,Period,E);
EMA3:= Mov(EMA2,Period,E);
Difference:= EMA1 - EMA2;
DMA:= EMA1 + Difference;
TMA:=(3*(EMA1-EMA2))+EMA3;
If(plot=2,TMA,DMA);{end}0 comments
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