I am trying to understand the basics of finance indicators. I have made 15 minute ohlc candles for the past 50 days.

Now if I try to calculate 5EMA, my doubt is what does 5 refer to? Is it days of number of candles or number of days? Assuming 6 hour trading session, I will have 1200 candles (50 days, 6 hours each day,15 min candles ). So, if I say my period is 5, is it number of candles or number of days?

If it is number of days (which I am usually coming acroos various tutorials, how do I convert these days to number of candles?)

Please don't branch off the discussions whether EMA is profitable or not.



it is the number of candles, it is always in reference to the candle unit you are using.


Without any other qualifications, the number for a moving average is the number of periods. In your case, it's the number of 15-minute baskets/candles.

As a contrast, traders will sometimes mention a "five-day moving average" even when using 30-minute intraday baskets. I knew a market maker who insisted on EMAs using tick data.

Another note: unless the "exponential" is explicit, generally assume it's a simple moving average.


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