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This is not a simple MA formula, neither is it a true exponential MA. It is
a pseudo MA based on a smoothing called "Wilder's smoothing". It is close
to an ema and a good approximation. Wilder used this as a short hand way
to calculate an ema when he developed many of his indicators years ago
before there were computers on every desk or even calculators on every desk.
With his formula it was easy to calculate with a pencil and paper every
night.
----- Original Message -----
From: "John Doe" <ms001122@xxxxxxxxxxx>
To: <equismetastock@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 15, 2003 5:35 PM
Subject: [EquisMetaStock Group] Jay - The Turtle system
> Jay,
>
> Page 14 of the downloaded Trading System manual states: N is simply the
> 20-day exponential moving average of the True Range... and then gives the
> formula (a few lines down) for N as
>
> N = (19 x PDN + TR)/20
>
> Now I am not a Ph.D. in Mathematics, but it seems to me that formula is
> calculating a SIMPLE MA, not an Exponential MA as they state. What do you
> think?
>
> JD
>
> PS: I personally use a simple MA of the ATR and have not tried using an
> Exponential MA. If you have, would you care to share your experience.
>
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