Affordable vacations on As price action traders we have no need for bells and whistles in our charts, but allow me to suggest the luxury of one technical tool that takes up no space at all, yet can be a very useful asset: the 25 exponential moving average (25ema). Surely we can do our trading without this indicator plotted, but I have come to appreciate this average as an excellent guide and filter in both analysis and trading operations. As the name suggests, the 25ema represents the average closing price of the last 2 5 bars, but with a small tweak in computation that favors the weight of the most recent bars. It is slightly slower than its more popular cousin, the 20ema, which is often plotted for similar guiding purposes.
The exponential tweak itself adds very little, though, and when used as a mere gauge of market pressure, any average between, say, 1 8 and 30 would serve this purpose just fine.
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Sloping up, with most bars closing above it, the bulls are momentarily on top; sloping down, the bears have the best of the action. All this in relative terms.
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