Author of 1994 DEMA/TEMA articles

Patrick G. Mulloy

Patrick G. Mulloy introduced the double exponential moving average (DEMA) in the January 1994 issue of Technical Analysis of Stocks & Commodities and the triple exponential moving average (TEMA) in the February 1994 issue. Little else about him is publicly documented.

What they argue

Ordinary moving averages force a trade-off between smoothness and lag, and combining an EMA with EMAs of itself can remove much of the lag.
Using these faster averages inside indicators such as MACD gives quicker signals than standard EMAs.

Sources

Traders.com: 'Smoothing Data With Faster Moving Averages', TASC V.12:1, Jan 1994 Traders.com: 'Smoothing Data With Less Lag', TASC V.12:2, Feb 1994 Wikipedia: Triple exponential moving average

Summaries are Be The Puck's paraphrase of public material. Be The Puck has no affiliation with the people listed.

Triple EMA crossover (20/50)

Rule and full record

Trend following · daily

Mulloy's triple-smoothed average removes most of an EMA's lag. Here a fast 20-day TEMA crossing a 50-day TEMA sets the call.

Calls right36%79,617 closed calls on 377 stocks.

Beat buy and hold (Sharpe)63 of 375On raw return: 60 of 375.

In right now188 of 377As of the Oct 13, 2026 close.

Best risk-adjusted results against buy and hold:

BTDROUT SUPXOUT STHHIN EOSEOUT ETHOUT RKLBIN RIOTOUT NPCEOUT LACOUT EQBOUT ARMOUT BTCOUT All 377 stocks →