EMA (Exponential Moving Average) is very well known and widely used indicator. More information on it can be found here : . It is used as a building brick for TRIX (triple exponential average (TRIX) indicator is an oscillator used to identify oversold and overbought markets, and it can also be used as a momentum indicator.
This version :
Is using the “Fast EMA” variation (originally published here : Fast EMA) instead of using “regular” EMA for TRIX calculation. That makes it faster in response to market changes than the original TRIX indicator
Usage :
You can use this version the usual way – change of color can be used as a signal
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