OPEN-SOURCE SCRIPT

Triple EMA (TEMA) + Slope Lead

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This indicator plots a standard Triple EMA (TEMA) and an optional slope-lead version. TEMA is a low-lag moving average built from three EMAs, allowing it to track price more closely than a single EMA. The Lead Strength (k) adds a small forward “push” based on the recent TEMA slope:
TEMA_lead = TEMA + k × (TEMA − TEMA[1]). Higher k values make the line react earlier but increase sensitivity in chop.

Used as a source for other indicators (RSI, MACD, stochastic, regime filters, etc.), TEMA or TEMA-Lead may improve signal quality by reducing noise, aligning momentum readings with trend direction, and producing earlier, cleaner transitions at turns, often without the excessive lag introduced by heavier smoothing.

Penafian

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