converting EMA from Daily to Weekly

[siavash_83]

Hi,

Sorry if this has been discussed before, but I couldn't find an answer to it in the forums.

I am trying to Draw a 20 Week EMA on a Daily Chart in my trading platform. As this is not possible by normal means, I can program it in to take daily prices, turn it into weekly and then loop to get the 20 Week EMA for that particular point.

I was wondering wether there is an easier way to do this? I know with SMAs you can divide by 5 to get the weekly values, but for EMAs, what would be better than my approach?

Assume: Have daily candles, 26 day EMA
Need 20 Week EMA.

Thanks

 

[Tradesurfer]

Depends on your charting platform. What you could probably do is create a custom indicator. Name it and save it 20 week EMA. Then overlay it on your chart along with your normal 26 day ema.

 

[siavash_83]

Depends on your charting platform. What you could probably do is create a custom indicator. Name it and save it 20 week EMA. Then overlay it on your chart along with your normal 26 day ema.

Thanks TradeSurfer,

I was using IGIndex then and figured out I could just do it with as you suggested. I have since moved to Meta Trader and it has the multi timeframe indicators built in.
I mainly wanted it for backtesting.

Thanks again