McGinley Dynamic — an average whose smoothing constant is itself a function of
how far price has run from the line, so it tightens in a trend and loosens in
a range instead of lagging by a fixed number of bars.
Recursive, and the reference seeds it from ema(source, length) for as long as its
own previous value is na: the first printed bar is therefore length - 1,
where the EMA first prints, and the recursion takes over from the bar after.
close is hard-coded in the reference (source = close), so there is no
source setting.
McGinley Dynamic — an average whose smoothing constant is itself a function of how far price has run from the line, so it tightens in a trend and loosens in a range instead of lagging by a fixed number of bars.
Recursive, and the reference seeds it from
ema(source, length)for as long as its own previous value isna: the first printed bar is thereforelength - 1, where the EMA first prints, and the recursion takes over from the bar after.closeis hard-coded in the reference (source = close), so there is no source setting.