Indicator Zero Lag Triple Exponential Moving Average.

It has two configurable parameters:

  • Period - calculation period;
  • Applied price - price used for calculations.

Calculations:

ZLTEMA = TEMA1 + Diff

where:

Diff = TEMA1 - TEMA2
TEMA2 = 3*(EMA4-EMA5)+EMA6
EMA6 = EMA(EMA5, Period)
EMA5 = EMA(EMA3, Period)
EMA4 = EMA(TEMA1, Period)
TEMA1 = 3*(EMA1-EMA2)+EMA3
EMA3 = EMA(EMA2, Period)
EMA2 = EMA(EMA1, Period)
EMA1 = EMA(Applied price, Period)