MarketXLS

Exponential Moving Average (EMA)

Returns the Exponential Moving Average, which gives more weight to recent prices compared to older prices. EMA reacts more quickly to price changes than SMA.

EMA vs SMA

Feature EMA SMA
Weighting More weight to recent prices Equal weight to all prices
Responsiveness Faster response to changes Slower, smoother
Lag Less lag More lag
Use case Short-term trading Long-term trends

Common EMA Periods

Period Usage
9-day Very short-term
12-day MACD component
20-day Short-term trend
26-day MACD component
50-day Medium-term trend

Parameters

Parameter Description Default
Symbol Stock ticker symbol Required
Days Number of periods for average 30
StartDate Calculate EMA as of this date Today

Syntax

=ExponentialMovingAverage(Symbol, [Days], [StartDate])
Excel Desktop (Windows)

Parameters

symbolstringRequired

Stock ticker symbol

daysstring

Number of periods for EMA calculation

startDatedate

Start date for calculation (defaults to today)

Returns

number

Exponential moving average price

Examples

=ExponentialMovingAverage("AAPL")
30-day EMA for Apple
=ExponentialMovingAverage("AAPL", "12")
12-day EMA for Apple
=ExponentialMovingAverage("MSFT", "26")
26-day EMA for Microsoft
=ExponentialMovingAverage("SPY", "9")
9-day EMA for SPY
=ExponentialMovingAverage("AAPL", "20", DATE(2024,1,15))
Historical EMA
=ExponentialMovingAverage(A1, B1)
Symbol and days from cells

When to Use

  • Short-term trading strategies requiring quick signals
  • MACD calculations (12-day and 26-day EMAs)
  • Identifying recent trend changes
  • Trading systems that need responsive indicators
  • Crossover strategies with faster signals

When NOT to Use

Scenario Use Instead
Need smoother trend line SimpleMovingAverage()
Long-term trend analysis SimpleMovingAverage() with 200 days
Need momentum oscillator RelativeStrengthIndex()
Need volatility measure StandardDeviationOnClosePrice()

Common Issues & FAQ

Why is EMA returning "NA"?

Check that:

  • The symbol is valid and actively traded
  • There is sufficient historical data
  • The stock has been trading for at least the number of days requested

What period should I use?

Common periods:

  • 9-12 days for very short-term trading
  • 20-26 days for short-term analysis
  • 50 days for medium-term

How is EMA calculated?

EMA = (Close - Previous EMA) * Multiplier + Previous EMA Where Multiplier = 2 / (Days + 1)

Excel Templates Using Exponential Moving Average (EMA)

These ready-made MarketXLS templates call ExponentialMovingAverage() in their worksheet formulas. Open one to see the function working inside a complete model.

Related Formulas

More MarketXLS Technical Indicators formulas you can use in the same worksheet:

See ExponentialMovingAverage used in a complete workbook: moving average excel: build an SMA and EMA crossover dashboard that updates itself

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