Welles Wilder Smoothing

WellesWilderSmoothing(Vector, Periods)
WWS(Vector, Periods)
MA Type Argument ID: WILDER

Overview
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.

Interpretation
This indicator is used in the manner that any other moving average would be used.

Example
set BUY = CLOSE > WWS(CLOSE, 30)
Evaluates to buy when the close is greater than a 30-day WWS.