OPEN-SOURCE SCRIPT
Brown's Exponential Smoothing Tool (BEST)
Brown's Exponential Smoothing Tool (BEST) is a script for technical analysis in financial markets. It is designed to smooth out price fluctuations and identify trends in a given time series data.
The script begins by defining the "BEST" indicator, which will be overlaid on top of the chart. The user can then specify the source of the data (e.g. close price) and set the values for the smoothing factor (alpha) and the style of exponential smoothing (BES, DBES, or TBES).
The script then defines three functions for calculating the exponential smoothing: "bes", "tbes", and "dbes". The "bes" function applies a single iteration of exponential smoothing to the input data, using the specified alpha value. The "tbes" function applies three iterations of exponential smoothing, using the triple exponential moving average (TEMA) formula to smooth out the data even further. The "dbes" function applies two iterations of exponential smoothing, using the double exponential moving average (DEMA) formula to smooth out the data.
Finally, the script defines a "ma" function, which returns the exponential smoothing result based on the style selected by the user. The script plots the result of the "ma" function on the chart, using the color orange.
In summary, Brown's Exponential Smoothing Tool is a script for smoothing out financial time series data and identifying trends. It allows the user to choose from three different styles of exponential smoothing, each of which has its own strengths and weaknesses. By applying exponential smoothing to financial data, traders and analysts can better understand the underlying trends and make more informed decisions.
The script begins by defining the "BEST" indicator, which will be overlaid on top of the chart. The user can then specify the source of the data (e.g. close price) and set the values for the smoothing factor (alpha) and the style of exponential smoothing (BES, DBES, or TBES).
The script then defines three functions for calculating the exponential smoothing: "bes", "tbes", and "dbes". The "bes" function applies a single iteration of exponential smoothing to the input data, using the specified alpha value. The "tbes" function applies three iterations of exponential smoothing, using the triple exponential moving average (TEMA) formula to smooth out the data even further. The "dbes" function applies two iterations of exponential smoothing, using the double exponential moving average (DEMA) formula to smooth out the data.
Finally, the script defines a "ma" function, which returns the exponential smoothing result based on the style selected by the user. The script plots the result of the "ma" function on the chart, using the color orange.
In summary, Brown's Exponential Smoothing Tool is a script for smoothing out financial time series data and identifying trends. It allows the user to choose from three different styles of exponential smoothing, each of which has its own strengths and weaknesses. By applying exponential smoothing to financial data, traders and analysts can better understand the underlying trends and make more informed decisions.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。