There is nothing too fancy about the WWMA, it is basically an calculated a little differently. I've added an with a different length that mirrors the WWMA to help illustrate this. Scroll over the and you will see they are both the same.
Is there an advantage to one or the other?
I honestly couldn't tell you (chime in if you know!). But for those of you who are interested in Wilder, it's good to know what he used to calculate some of his indicators.
study(title="The Lark: Welles Wilder Moving Average",shorttitle="WWMA_LK",overlay=true) // Inputs length = input(defval=14) sd = input(true, title="Show dots?") ccol = input(true,title="Change Color?") // Calc wwma(l,p) => wwma = (nz(wwma) * (l - 1) + p) / l wma = wwma(length,close) // Styling col = ccol ?( wma > wma ? #0094FF : #FF3571) : #0094FF up = wma > wma ? 1 : 0 down = wma < wma ? 1 : 0 // Plots plot(wma,linewidth=2,color=col) plot(sd and cross(up,down) ? wma : na,style=circles, linewidth=4, color=col )