Double EMA

Double EMA

Double Exponential Moving Average (DEMA) is a well-known trend indicator. DEMA was developed by Patrick Mulloy and published in February 1994 in the "Technical Analysis of Stocks & Commodities" magazine. It is used for smoothing price series and is applied directly on a price chart of a financial security. Besides, it can be used for smoothing values of other indicators. The advantage of this indicator is that it eliminates false signals at the saw-toothed price movement and allows saving a position at a strong trend. (Reference: MT5 Help Topics)

Input Description:

• period: MA's period. Must be higher than 1.
• applied_price: Define the price to be applied. Use 1 of these integers
• 0 -> applied_price is Close Price
• 1 Open price
• 2 High price
• 3 Low price
• 4 Median price
• 5 Typical price
• 6 Weighted Typical price
  
• shift: give an additional offset for the signal. Must not be higher than period.