OPEN-SOURCE SCRIPT

EMA NoHesi - cutting noise in EMA and any other data series

Noise is common issue in variety of indicators. NoHesi is my take on reducing this noise.

Moving Averages are great indicators to show and maintain the trend. But sometimes - especially in pullback areas, smooth reversal zones or flat markets - MAs suggest trend changes, while it would be best for them to stay quiet :)

NoHesi function smoothens this noise, without adding unnecessary delay. NoHesi will make MA stay in the same direction as long as the move is not significant. If significant - MAs will report trend-change instantly.

Check the chart for illustration - NoHesi EMA keeps showing the same direction, despite its numerous attempts to change it (marked blue).

NoHesi can be applied to any data series: MAs, RSI , ADX , etc. EMA seemed like the most obvious example, so I used it for this presentation.

Hope it helps in your research!

P.S. When applying this to EMAs in other markets/timeframes, you will need to adjust "hesitation" parameter.
hesitationMoving AveragesnoisenoisefreeTrend Analysis

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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