What Is The Zero Lag Exponential Moving Average And How Is It Used In ProRealTime?

Calculation:

Zero Lag Moving Average

ZLEMA = EMA of (close + (close-close[lag]))

Lag = (N-1)/2

Interpretation:

The zero lag exponential moving average aims to eliminate the lag associated with trend following indicators which average price over time. It can be viewed as a very fast moving average and interpreted in the same way as other fast moving averages

In ProRealTime the indicator can be adjusted to allow for horizontal and vertical shift along with options to customise the data points used in the EMA calculation

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