Triple Exponential Moving Average (TEMA) was developed by Patrick Mulloy in 1994. This is calculated as follows TEMA = 3*EMA – 3*EMA(EMA) + EMA(EMA(EMA)). The user may change the input (close), period (20) and shift (0). This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using the Triple Exponential Moving Average (TEMA)
TEMA may be used as a moving average in conjunction with other indicators. No trading signals are given.
How To Access in MotiveWave
Go to the top menu, choose Study>Moving Average>Triple Exponential Moving Average (TEMA)
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
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Calculation
//input = price, user defined, default is close
//period = user defined, default is 20
//shift = user defined, default is 0
//ma = moving average, index = current bar number
ma1 = ma("EMA", index, period, input);ma2 = ma("EMA", index, period, MA1);ma3 = ma("EMA", index, period, MA2);Plot: tema[shift] = (3 * ma1) - (3 * ma2) + ma3; 