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The ZLEMA indicator or zero lag exponential moving average is a technical analysis indicator originally created by Ric Way and John Ehlers.
The goal of the indicator is to try to eliminate the inherent lag of all trend following indicators which average prices over time such as the simple or exponential moving averages.
Instead of applying the exponential moving average on the regular data (usually the close price), the indicator applies it to a de-lagged data, which is the original data removed from the "lag" days.
Usually, a stock is considered bullish when the zero lag EMA is above the original EMA and bearish when the zero lag EMA is below the original EMA.
Example of usage:
a = Zlema(close, 250);
Plot(a, "Zero-Lag exponential moving average", colorGreen);
// Plots the 250-bar Zero-Lag exponential moving average on a chart
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
