The Difference is that this script apply the formula of standard with the Elastic .
I took the formula of EVWMA from public library coded by LazyBear.
I use EVWMACD as a trend confirmation indicator.
Just tune all lengths and parameters according to your instruments
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.