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@mcjkula mcjkula commented Nov 11, 2025

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$$S_i = (1 - \alpha) \cdot S_{i-1} + \alpha \cdot \text{net\_flow}_i$$

The EMA smooths out short-term fluctuations. With a very small α (~0.000003209), the EMA changes slowly—99.9997% comes from the previous EMA value and only 0.0003% from the current block's flow. This creates a 30-day half-life, meaning it takes about 30 days for the EMA to move halfway toward a new sustained flow level.
This results in an EMA window (duration over which old values still affect the running EMA) of approximately ~86.8 days.
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EMA window (duration over which old values still affect the running EMA)

There is nothing like a lookback-window for an EMA, the EMAs are looking back infinitely into the past and will always be influenced by all past EMAs.

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