The Zero Lag Exponential Moving Average indicator was created by John Ehlers and Rick Way. As with the Double Exponential Moving Average (DEMA) and Triple Exponential Moving Average (TEMA), and as the name suggests, the goal is to eliminate the lag, which is inherent in all trend-following indicators and averages the price over time.
The indicator view in the chart.
The indicator has the following parameters:
Period - setting of indicator calculation period.
Source - setting of the indicator calculation parameters:
Panel/Moving average period - selection of the indicator location in the chart:
- New panel
Show value - display of the indicator value on the price scale on the left.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Color - color setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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