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I can't seem to duplicate Metastocks Exponential MA in Excel even
though I think I am following the Metastock formula
In metastock I get a 5 period exponential moving average of
26.744 using "Mov(C,5,E)"for the following closing prices
27.34,27.11,26.78, 26.76,26.44
To try to duplicate that value in Excel I followed the Metastock
Calculation given in the Metastock Help file. ("Moving Average
Calculation Methods">Exponential)
"An exponential (or exponentially weighted) moving average is
calculated by applying a percentage of today's closing price to
yesterday's moving average value.
For example, to calculate a 9% exponential moving average of IBM:
First, we would take today's closing price and multiply it by 9%. We
would then add this product to the value of yesterday's moving average
multiplied by 91% (100% - 9% = 91%)
m.a. = [(today's close) x 0.09] + [(yesterday's sma) x 0.91)
Because most investors feel more comfortable working with time periods
rather than with percentages, MetaStock converts days into an
exponential percentage. For example, if a 21-day exponential moving
average is requested, a 9% moving average is calculated.
The formula for converting days to exponential percentages is as
follows:
Exponential percentage = 2/(time periods)+1"
To duplicate that, I put
27.34
27.11
26.78
26.76
26.44
(In Cells A1-A5)
Metastock Percentage formula should be
=2/(5+1)
Which equals
.33333
And
=(A5*0.3333)+((SUM(A1:A4)/4)*(1-0.3333))
To get the 5 day exponential moving average of
26.81169
Which does not match.
* At the beginning of a chart, the first time Metastock shows a five
day EMA is on the 5th bar. The explanation says to take
"yesterdays
moving average" that is why I am using a 4 day sma in the
calculation.
I am guessing that it would have to be that way. I have tried it a
bunch of ways and nothing gets the same value
(To make sure I am using the right data I checked to make sure
MOV(c,5,s) in metastock equals =SUM(A1:A5)/5 and both equal 26.886 )
Thanks for any ideas
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