Can anyone help me on how does the EMAs are getting calculated which we see on the charts per candle?
I am calculating using below code to calculate 20 EMA in 5 min timeframe -
def calculate_ema(prices, period):
# prices is an array which contains all previous day close prices of 5 min candles
# as the new prices are coming I am appending them in the array
# period will be 20
ema = []
multiplier = 2 / (period + 1)
ema.append(sum(prices[:period]) / period) # Initial EMA (SMA of first period)
for price in prices[period:]:
ema.append(((price - ema[-1]) * multiplier) + ema[-1])
return ema[-1]
