The standard EMA formula is EMA= Close - EMA(previous day)} x multiplier + EMA(previous day)
Multiplier = (2/(Period + 1))
TimEMA makes the 2 in the multiplier calculation an input parameter. The larger that number is, the quicker the response.
Multiplier = (2/(Period + 1))
TimEMA makes the 2 in the multiplier calculation an input parameter. The larger that number is, the quicker the response.
study(title="TimEMA", shorttitle="TimEMA", overlay=true)
len = input(9, minval=1, title="Length")
num = input(2.0, minval=0.1, title="Numerator")
src = input(close, title="Source")
//out = ema(src, len)
//EMA: {Close - EMA(previous day)} x multiplier + EMA(previous day).
mult = (num / (len + 1))
//out =
out = iff(na(out[1]),close,((close - out[1])*mult) + out[1])
plot(out, title="EMA", color=red, linewidth=2)