As the next in a line of free indicators, EOTPro is proud to release the Holt Trend-Corrected EMA. This variation on the EMA tracks an estimated trend component, allowing it to get inside the bars of a trending market, rather than just lagging behind it.
The alpha input controls the speed of the EMA. Numbers like 15 will give a 15-period EMA, though if you are the type that prefers to give an actual alpha value, you'll be pleased to know that inputs less than 1 are treated as such. So, you get the best of both worlds. All EMA's should be coded this way!
The gamma input controls a secondary EMA that tracks the trend strength. In general, I set this to about twice the lag of the EMA I'm using. So, for example, I use a 20-period EMA with a 41-period gamma.