mrtools wrote: Wed Mar 05, 2025 1:04 am New Step NEMA indicator with Colored Candlesticks
Thanks, changed to colored candlesticks instead of bars.
As per the previous post I wrote, this is a new version of step ma of nema, seems to hug the price better, but remains to be seen if it is an improvement of the last version.
What is the NEMA?
NEMA (n-EMA) can calculate up to 49 EMA's and it uses up to 50 calculating buffers internally.
It calculates EMA, DEMA, TEMA and so on depending onNemaDepth
parameter. In simple terms, using "3" in theNemaDepth
will give you Triple Exponential Moving Averages. Using "40" in theNemaDepth
will give you Quadragintuple Exponential Moving Averages.
Nema can calculate all the known variations (offspring) of EMA : EMA, DEMA, TEMA, DecEMA and so on, up to "levels" or "depth" 50 (Quinquagintuple Exponential Moving Average).
Some known depths:With
1
(period) equals EMA: Single Exponential Moving Average2
(period) equals DEMA: A Double Exponential Moving Average3
period) equals TEMA: Triple Exponential Moving Average4
period) equals TEMA: Quadruple (Quad) Exponential Moving Average5
period) equals TEMA: Quintuple Exponential Moving Average10
(period) equals DecEMA: Decuple Exponential Moving Average50
(period) being the maximal depth calculated by this indicator.
Good day
4 and 5 buffers show the color of the trend.
These buffers constantly show price data.
Is it possible to add 2 buffers so that when the trend is in buy, the trend line in sell shows zero data, and when the trend is in sell, the line in buy shows zero data.
So that you can link the indicator to your advisor to use as a trend filter.