BeST TEMA

BeST TEMA

Triple Exponential Moving Average (TEMA) is a  moving  average (MA) that gives the most weight to recent price data.TEMA is more reactive to  all price fluctuations than a Simple Moving Average (SMA) or an Exponential Moving Average (EMA) or even a Double Moving Average (DEMA) and surely can help traders to spot reversals sooner because it responds very fast to any changes in market activity. TEMA was developed by Patrick Mulloy in an attempt to reduce the amount of lag time found in traditional moving averages (TASC_ 1994) and so get more reliable Crossovers. TEMA can also be used as a component in a lot of indicators like Moving Average Convergence Divergence (MACD) and Mov.Average of Oscillator (MAOsc) that are based on Moving Average types and can be modified to use a TEMA  instead of other more traditional types of Moving Averages.

Inputs

•  Select Period for TEMA - It is the number of Bars that we Look Back on the Chart in order to calculate TEMA.
•  Select Price TEMA applied to -  It is the price we use in TEMA calculation. By default we use the price of Close.

Line  Settings

• Select Line Style of TEMA Indicator
• Select Line Width of TEMA Indicator
• Select Line Color of TEMA Indicator