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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.

Thanks

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

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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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