ExpAverage ( int length);
Returns the exponential moving average (EMA) of
The formula for the calculation of the exponential moving average is recursively defined as follows:
EMA1 = price1;
EMA2 = α*price2 + (1 - α)*EMA1;
EMA3 = α*price3 + (1 - α)*EMA2;
EMAN = α*priceN + (1 - α)*EMAN-1;
where α is a smoothing coefficient equal to
2/(length + 1).
Note that in thinkScript®, exponential moving averages use prefetch, see the Past Offset and Prefetch article for details.
|data||-||Defines data for which the average is found.|
|length||12||Defines period on which the average is found.|
input price = close;
input length = 12;
plot ExpAvg = ExpAverage(price, length);
The example plots an exponential moving average of a security's Close price.