The Adaptive Laguerre Filter calculates a smoothed, dynamically adjusted trendline plotted directly on the main price chart. It dynamically adjusts its damping factor (alpha) based on recent price range variations and median percentile calculations over a spec
Indicator · Pine Script v5 · On the chart
Exponential Moving Average (Trend Following)
This indicator calculates and plots a custom Exponential Moving Average (EMA) directly on the main price chart.
GitHub stars3on the repository
Pine versionv5runs as is
Lines of code20
Settings1inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago9 Aug 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
20 lines of Pine Script v5 from indicators/ema.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © AugustoErni
//@version=5
indicator(title="Exponential Moving Average (Trend Following)", shorttitle="EMA (Trend Following)", overlay=true)
lengthPeriod = input.int(defval=21, title="Length Period", step=1, tooltip="Calculate the exponential moving average (EMA) over the specified period.")
source = close
alpha = 2 / (lengthPeriod + 1)
sma = 0.0
for i = 0 to lengthPeriod - 1
sma := sma + source[i] / lengthPeriod
ema = 0.0
ema := na(ema[1]) ? sma : ((alpha * source) + ((1 - alpha) * nz(ema[1])))
plot(ema, title="EMA", color=color.blue)
Overview
Exponential Moving Average (Trend Following) uses an initial Simple Moving Average over a user-defined period to seed the exponential calculation, applying standard alpha weighting to smooth subsequent close prices. Traders can adjust the length period parameter to adapt the moving average for short-term or long-term trend identification. It displays a single line overlay on the price chart and does not repaint closed bar values.
- Custom Exponential Moving Average calculation
- Configurable length period input
- Direct price chart overlay
Details
Published by
augustoerni on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Trend, Moving averages
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Length Period | int | 21 | lengthPeriod |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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