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Exponential moving average versus moving exponential average


In this note we discuss the mathematical tools to define trend indicators which are used to describe market trends. We explain the relation between averages and moving averages on the one hand and the so called exponential moving average (EMA) on the other hand. We present a lot of examples and give the definition of the most frequently used trend indicator, the MACD.

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Correspondence to Frank Klinker.

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Klinker, F. Exponential moving average versus moving exponential average. Math Semesterber 58, 97–107 (2011).

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  • Average
  • Trend indicator
  • Chart analysis
  • MACD