Wanted: ZLEMA for TradeStation

[user237509837 10]

Zero Lag Exponential Moving Average (ZLEMA) is part of SierraChart. Problem: I use TS and I don't have a clue on programming (EasyLanguage is the opposite for me).

 

I think this is better than HA because it doesn't overshoot.

 

Anyway, here is the formula and if any of you smart guys who use TS can create the ELD, we can all benefit. If it can have the same color code as HA (green up/red down) that would be really helpful

 

EMA = K * ( 2 * PRICE - PRICE.X) + (1 - K) * EMA.1

where...

K = 2 / (n + 1)

n = Period

x = lag = (n - 1) / 2

 

http://www.geocities.com/user42_kevin/chart/manual/Zero_002dLag-Exponential-Moving-Average.html

[thrunner 10]

Welcome to the forum.

 

What you have posted is based on the infinite impulse filter (IIF) described by John Ehlers in his 2002 article, "Zero-Lag Data Smoothers."

You can just copy and paste and verify the TS code portion in that Ehlers' article.

 

The Moving Average Triangular that is built into TS is another option if you can't get this to work.

[sevensa 10]

Here is the code based on your formula. Copy and paste into EL and verify.

 

Input:	Price(Close),
Period(13),
UpColor(Green),
DownColor(Red);

Vars:	K(0),
x(0),
EMA(0);

K = 2/(Period + 1);
x = (Period - 1)/2;

if CurrentBar = 1 then 
EMA = Price 
else
EMA = K * ( 2 * price - price[x]) + (1 - K) * EMA[1];

If EMA > EMA[1] then SetPlotColor(1,UpColor);
If EMA < EMA[1] then SetPlotColor(1,Downcolor);

Plot1(EMA, "ZLEMA");

 

Attached are two screenprints. In the first one the ZLEMA is in Red and Green. In the other one both the 13 period ZLEMA and Hull Averages are displayed. ZLEMA in Magenta and Hull in Yellow. From this comparison it appears that the ZLEMA overshoots more than Hull.

[Derry Brown 10]

I am a little confused. What is Price.X?

 

Is it Price * X? Or Price X periods ago?

 

Thanks for your help

Derry

[EasyTrader_I 10]

HI,

 

Price[X] Refers to Price X bars ago.

 

EasyTrader_I