NeoButane

CWAP - Candle Close Weighted Average Price

Variable EMA length based on candle closes.


Current candle is greater/lesser than previous candle close in successive periods = add to the length


In the case of reversals, price tends to spike up, retrace, then reverse. In that event, the EMA resets length to catch up before a full reversal occurs.

When price moves uniformly in one direction, the EMA length increases excessively to prevent chop.

Similar to a McGinley Dynamic, except weight isn't give to a particular direction.
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My published indicators: https://www.tradingview.com/u/NeoButane/#published-scripts

Sorry if I haven't replied to your message yet, I'm a bit backlogged :)

Comentários

Thanks !!
Resposta
Really appreciate the sharing of this indicator, thanks. I'd like to create a CWAP like this in excel. Any chance of sharing the source code? Cheers!
Resposta
Thanks for your generous =D
Resposta
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