everget

Zero Lag Exponential Moving Average

Zero Lag Exponential Moving Average indicator script based on the original version by John Ehlers and Ric Way
Release Notes: Fixed rounding
Release Notes:
  • Add coloring
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

hello.
would it be possible to set an alarm on color changes? and how
thank you
+1 Reply
Hi @everget, your iteration of Ehlers & Way's ZLEMA appears to plot differently than HPotter's iteration of the "same" ZLEMA version. His is based on Ehlers & Way's too but the code is a little different. When comparing, HPotter's iteration appears to have less lag. Any idea why? Are they just different ZLEMA versions to begin with? Thanks

Here is the version I'm comparing to.
+1 Reply
everget wroclai
@wroclai, the difference is the "round" function - it rounds values like 4.5 or 7.5 to 5 and 8. But with "floor" function results are the same.
Harry doesnt use rounding - he pushes decimal value directly as length to ema.
Reply
wroclai everget
@everget, Oh okay, thanks for the explanation.
+2 Reply
You say that your script is based on the original version by John Ehlers and Ric Way. Is this the original version you've based your script from?
http://www.mesasoftware.com/papers/ZeroLag.pdf
http://traders.com/Documentation/FEEDbk_docs/2010/11/TradersTips.html#TT14
Can you do a more accurate version including the plot of the EMA and de EC? It would be awesome. Thank You.
Reply