OPEN-SOURCE SCRIPT
Indicator: Zero Lag EMA & a simple trading strategy
Zerolag (almost) EMA gives a good indicator of "close" trend. Many are familiar with the fast/slow ema crossing strategy. Try using this zerolag_ema as the fast runner. You will see improved and more reliable crossovers..
In general, when the zero_lag ema is above the EMA the instrument is in a bull mode and when the zero_lag ema is below the EMA the stock is bearish.
More info at mesasoftware.com/Papers/ZERO LAG.pdf
In general, when the zero_lag ema is above the EMA the instrument is in a bull mode and when the zero_lag ema is below the EMA the stock is bearish.
More info at mesasoftware.com/Papers/ZERO LAG.pdf
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 publication is governed by House rules. You can favorite it to use it on a chart.
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List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
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