Before this script, I cannot find a IE /2 moving average script in tradingview. Although it is not so complex, it is meaningful to be the 1st Tim Tilson IE /2 script in tradingview community. IE /2 moving average was disclosed in "Smoothin Techniques For More Accurate Signals", Tim Tilson, S&C Magazine, Traders Tips, 01 /1998.
IE /2 is one of pre-studies created while T3 famous average was developing. It is calculated as (ILRS(n)+EPMA(n))/2. ILRS, is an integral of slope. In this moving average, the slope of a line is simply integrated as it is fitted in a moving window of length n across the data. The derivative of ILRS is the slope.EPMA is an end point moving average - it is the endpoint of the line of length n as it is fitted across the data. EPMA hugs the data more closely than a simple or of the same length.
The most popular method of interpreting a moving average is to compare the relationship between a moving average of the security's price with the security's price itself (or between several moving averages).
Price --> price data to use
Period --> number of bars to use in calculation
Price --> Price Input.
IE /2 --> IE /2 Ouput.
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
USDT TRC20: TWVYATJFN7SsbrmH8jLVrWHaV2aNruvvcT
USDT ERC20: 0xfd4d0eb131e81f44530849c1a966cb261dd6bda2