Double-Smoothed EMA of the Daily Close–Open Difference

Summary

DayImpuls is a chart indicator that plots the difference between each bar’s closing and opening prices over an averaging period. It applies double smoothing based on exponential moving averages and displays the resulting line in a separate chart window. This provides a smoothed view of intraday price direction across the selected averaging period.

The document explains the indicator’s calculation at a high level but does not provide parameter guidance, entry or exit rules, performance tests, or evidence that the measure predicts returns. It is therefore a descriptive technical indicator rather than a complete trading strategy. Any interpretation would depend on the averaging period and further testing, details of which are not supplied in the text.

Key ideas

• The indicator measures the close-minus-open price difference over an averaging period.
• It smooths that measure twice using exponential moving averages.
• The output is displayed as a line in a separate chart window.
• The description does not specify trading rules or provide evidence of predictive performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.