The indicator displays on the price chart a moving average with the JSmooth smoothing type (the smoothing type proposed by Mark Jurik).
The indicator has two input parameters:
- Period – calculation period;
- Applied price – price used for calculations.
Calculation:
JSmooth[i] = J5[i]
where
J5[i] = J5[i-1] + J4[i], J4[i] = (J3[i] - J5[i-1])*(1 - Alpha)*(1 - Alpha) + J4[i-1]*Alpha*Alpha, J3[i] = J1[i] + J2[i], J2[i] = (Price[i] - J1[i])*(1 - Alpha) + J2[i-1]*Alpha, J1[i] = Price[i]*(1 - Alpha) + J1[i-1]*Alpha, Alpha = 0.45*Period/(0.45*(Period-1)+2)
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