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You start by calculating the EMA and then nest that in the 2nd EMA. Use this formula in a Show Plot (to adjust the lookback period change the #$LB variable from 15).
// Set lookback period;
EMA1 = MA(BARS=$LB, STYLE=Exponential, CALC=Close);
//Calc EMA of EMA;
EMA2 = MA(EMA1, BARS=$LB, STYLE=Exponential, CALC=Close);
(2 * EMA1) - EMA2
Save the script as an indicator to the same view, and it will then be available in your toolbox. Once applied you can change the colour etc in the properties and save as default or add a custom button to your toolbar:
For Triple (TEMA) and Quadruple (QEMA) exponentials see here: https://forum.optuma.com/topic/tema-from-stocks-commodities-feb-1994/
- This reply was modified 9 months, 2 weeks ago by Darren.