Corrected generalized DEMA

v10.3
Corrected generalized DEMA

DEMA average is a double Exponential Moving Average. It was created to reduce the amount of lag time found in traditional moving averages.  It was first released in the February 1994 TASC magazine.

This version embed the corrected function, it measures deviations of the DEMA values, if the changes are not significant, then the value is “flattened”.

It also includes the floating levels functionality (2 levels based on recent highest high and lowest low of the corrected curve).

The DEMA and corrected DEMA change color following these criteria:

  • color change on slope change
  • color change on outer (floating) levels cross
  • color change on middle (floating) level cross
  • color change on average (DEMA) value cross

 

 

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  1. Jan Wind • 11/20/2018 #

    Nicolas,

    could you explain why you have used 4 numbers to draw the candle ? First 3 defines the color ? true ?, what does the fourth mean ?

    drawcandle(flup,fldn,flup,fldn) coloured(169,169,169,40) bordercolor(169,169,169,0)

    Thanks in advance, Jan

    • Nicolas • 11/20/2018 #

      Alpha transparency from 0 to 255.

  2. Jan Wind • 11/20/2018 #

    I like the principles behind this indicator.
    I prefer to use the TEMA instead of the DEMA. So therefore I adjust the word “DEMA”, used only once at line 20, for “TEMA”. This works only if you also adjust line 18 in the code “if barindex>Period*2 then” to ” if barindex>Period*3 then”, as the TEMA uses a triple moving average instead of double moving average with DEMA.

  3. ehtsham • 11/20/2018 #

    Hi, Sir can you tell me how to put this code in indicator plz

  4. Jan Wind • 11/20/2018 #

    Ehtsham,

    all you need to do is change the code in line 18 and line 20 (see the code above from Nicolas)
    ORIGINAL CODE
    18. if barindex>Period*2 then
    19
    20 avg = DEMA[Period](Series)

    ADJUSTED CODE (change 2 to 3 in line 18 and change DEMA to TEMA in line 20)
    18. if barindex>Period*3 then
    19
    20 avg = TEMA[Period](Series)

    KR Jan

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