Crypto Academy / S6W2 - Homework Summary - Crypto Trading Strategy with Triple Exponential Moving Average (TEMA) Indicator

in SteemitCryptoAcademy3 years ago

Introduction

In the Steemit Crypto Academy, Season 6 week 2 has ended, what a beautiful season so far filled with lots of great lectures from professors and entries from the participants. For week 2, I presented the lecture Crypto Trading Strategy with Triple Exponential Moving Average (TEMA) Indicator. It was a great lecture and I appreciate all entries received, students are doing their best. Let's see how things went in the just concluded week.

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Overview of Triple Exponential Moving Average (TEMA)

Triple Exponential Moving Average is a technical analysis tool, an indicator to be precise which is trend-based, as such, moves with the price of an asset over time and present the current state of the market on the chart. It's an innovation built on the earliest moving average indicators to correct some shortcomings, for example, the lagging effect associated with moving averages.

Triple Exponential Moving Average can be used to identify the current trend in a market, trend changes, supports, and resistances and a trend reversal trading strategy can be built on the actions of this special moving average indicator. One of those strategies is the use of a crossing over that exists between two combined TEMAs to make buy/sell entries in a market.

The use of TEMA as a lone indicator for entries in the market is great as it has eliminated the lagging effect of moving averages, nevertheless, traders should consider using other indicators in combination with it to be sure of the signal given by TEMA.

Observations

Many of the entries received for the week are great ones but there are a few inconsistencies that cost a lot of users which range from originality, quality of analysis, structure, and so on. Let's take a look at some of these things said including some questions, and how students could have answered them.

How TEMA is calculated

Taking a closer look at the question, it seeks to know how TEMA is calculated which goes beyond only giving the formula for calculating TEMA. Students are expected to give at least a brief overview of how the elements of the formula are derived and utilized. See below how it is calculated.

  • The process starts by choosing a period. Calculate the EMA for the chosen period and that gives EMA1.
  • Going further, calculate the EMA of EMA1 above and this gives birth to EMA2.
  • Then, calculate the EMA of EMA2 above which results in EMA3.
  • Now that you have gotten the values of EMA1, EMA2 and EMA3, insert them into the formula and this gives the value and position of TEMA on the chart. Note that: the same period is used for calculation all through.

Demo and Real Trades Setup with TEMA

For a valid setup utilizing TEMA crossovers, traders should aim at getting a recent crossover of TEMA before making an entry. Many entries placed their buy and sell positions even when the crossover has taken place for a long time and the price of the asset has moved deeply. An entry made in such a situation is considered to be late and doesn't comply with the strategy. Traders should take note of that.

Originality

Some entries lost a few marks as regards originality as students based all their study on the lecture alone and it is very evident in their entries. Some of these entries have only depended on what was taught in the lecture with no addition that shows extra research from the side of the student. Oftentimes, such articles look like the lecture was spun by the students. To take care of an occurrence like this, extra efforts are required from the student's side to make original content to take a full mark in that section. For plagiarists/content farmers, me and other professors won't stop fishing you out, we want a clean environment on Steem for genuine growth.

Proper Analysis

At a section of the task, I have asked students to combine two TEMAs at different periods and it is required that student should explain their choice of periods. The question seeks to understand what type of trader you are, short-term or middle-term or long-term, which your choice of periods should be able to tell with a brief description as per selection. Unfortunately, many entries failed to attend this properly as requested. I will suggest that students pay more attention to questions and answer them appropriately.

Statistics

The second week of season 6 under the lecture "Crypto Trading Strategy with Triple Exponential Moving Average (TEMA) Indicator" received a total of 43 homework task entries and all were attended to timely, within 48hrs of creation. See the performance of the entries received in the table below.

GradeFrequency
Excellent6
Very Good14
Good19
Average2
Below Average0
Plagiarized Content2
Invalid0
Total43

Excellent represents grades within 9 - 10, Very Good for grades within 8 - 8.9, Good for grades within 6 - 7.9, Average for grades within 5 - 5.9, Below Average for grades below 5, Plagiarized are the contents that are found to have been copied from another source without proper reference. For the just concluded week, no entries were below average and no invalid entry and two cases of plagiarism was received as the involved students have used others content/graphics and presented it as theirs, it's a bad practice.

Summary Week 21.png

Summary Week 22.png


Top 3 Entries for the Week

The homework task associated with the lecture received some great articles with some having just a little difference in performance. Out of the total entries, I found the following articles to take the top 3 spots.

RankAuthorArticle's Link
1@lavanyalakshmanLink
2@beckie96830Link
3@ahumadaliliana29Link

Conclusion

In conclusion, it's a fruitful week of learning and the participations received are great ones, the good grade category takes the highest percentage 44% for the week, I hope these ones can strive to enter the next top categories, although, students' performance is commendable and the efforts put in are highly appreciated, but it can be better. At this point, students who failed in the sections under observations above know what took some marks from their entries and I look forward to seeing them correcting their shortcomings in subsequent homework tasks. Thanks to everyone.

Cc:-
@steemitblog
@steemcurator01
@steemcurator02

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Thank you Prof for the mention

Congratulations! Continue being consistent in the Academy.

Thankyou professor for mentioning my entry as one of best entry post.

You deserve the spot and I hope to seeing you performing better in the Academy. Cheers!

Thank you professor.