Welles Wilder Smoothing
MA Type Argument ID: WILDER
The Welles Wilder’s Smoothing indicator is similar to an exponential moving average. The indicator does not use the standard exponential moving average formula. Welles Wilder described 1/14 of today’s value + 13/14 of yesterday’s average as a 14-day exponential moving average.
This indicator is used in the manner that any other moving average would be used.
set BUY = CLOSE > WWS(CLOSE, 30)
Evaluates to buy when the close is greater than a 30-day WWS.