The exponential moving average (EMA) is a recursive average that updates by blending today's close into yesterday's EMA via a smoothing factor α = 2 / (N + 1). Older observations decay exponentially rather than dropping off a fixed window, so the EMA reacts faster to new price action than the equivalent-length SMA.
EMAs are the building block for many other indicators: MACD is the difference of two EMAs, the signal line is an EMA of MACD, and many strategies use a 9 / 21 / 50 EMA stack to gauge short- vs. medium-term trend.
The trade-off versus SMA: faster response in trending markets, but more whipsaws in chop. The smoothing factor α is unitless — the same EMA(20) on 1-minute bars and on daily bars uses the same recursion.
Formule
EMA_t = α · P_t + (1 - α) · EMA_{t-1}, where α = 2 / (N + 1)Exemple
For N = 10, α = 2 / 11 ≈ 0.1818. If yesterday's EMA was 100 and today's close is 110, today's EMA = 0.1818 · 110 + 0.8182 · 100 ≈ 101.82.
Comment Noon Barbari utilise Exponential moving average (EMA)
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See the indicators reference →Termes liés
- Indicateurs
Simple moving average (SMA)
Unweighted arithmetic mean of the last N closes. Every bar counts equally.
- Indicateurs
Moving average
A rolling average of price over a fixed window, used to smooth noise.
- Indicateurs
MACD
Trend-momentum hybrid: difference of two EMAs, plus a signal-line EMA and histogram.
- Structure de marché
Trend
A persistent directional drift in price — up, down, or sideways.