Key Takeaways
SMA and EMA differ in how they weight price. The SMA weights every close in its window equally, the EMA weights the most recent closes more.
The EMA reacts faster, the SMA lags more but stays smoother. On identical data the EMA turns first and whipsaws more, the SMA lags but filters out noise.
Neither one predicts the price. Both are lagging indicators that confirm a move after it has already started, never a guarantee.
The choice comes down to the time frame and holding period. Day traders and scalpers lean on the EMA, swing and position traders lean on the SMA, many run both.
The most common settings are 9, 20 or 21, 50 and 200. Shorter periods react faster with more signals, longer ones lag more, 12 and 26 stay reserved for MACD.
Using both together is a standard combination. A slower average such as the 200 SMA sets the bias, a faster EMA such as the 9 or 21 times the entry.
EMA vs SMA: What's the Difference and Which Should You Use?
The difference between the SMA and the EMA is how each one weights price. The SMA gives equal weight to every closing price in its window, the EMA weights recent closes more heavily, so it reacts to new price action faster.
The SMA suits traders who want a smoother line and fewer false signals, particularly swing and position traders reading a long term trend on the Nifty 50 or a gold CFD. The EMA suits traders who need an earlier signal and can accept more noise, particularly day traders and scalpers timing intraday entries. Neither average predicts where price goes next, both confirm a move that has already begun.
EMA vs SMA at a Glance
The EMA reacts faster and lags less, so it suits short term entries where timing matters. The SMA weights every price equally, reacts more slowly, and suits longer term trend reading. Neither line predicts direction, both confirm a move only after it has started. Day traders and scalpers default to the EMA, swing and position traders default to the SMA, and many run both on the same chart.
What Is a Moving Average?
A moving average is the average of an asset's closing prices over a set number of periods, recalculated as each new period closes. Traders also call it a rolling average or moving mean, the window rolling forward one period at a time as the oldest price drops out and the newest is added.
The number of periods is the period, or length, chosen by the trader. A longer period smooths the line but adds lag, a shorter period tracks price more closely but adds noise. Built from closing prices, a moving average is a lagging, trend following indicator. It comes in several types, simple, exponential, weighted, smoothed and the exponentially weighted moving average, of which the SMA and EMA are the two most widely used. TMGM's full guide to moving averages in forex trading covers every type in more depth, with common lengths running from 10 or 20 for a short read to 50 for an intermediate one and 200 for a long term one.
Why Traders Use Moving Averages
Traders use moving averages for three main reasons, reading trend direction, marking dynamic support and resistance, and generating entry and exit signals.
The slope reads trend direction, rising for an uptrend and falling for a downtrend, smoothing out day to day noise so the underlying direction shows through. In an uptrend price tends to bounce off a rising average as support, in a downtrend it rejects a falling average as resistance.
The most basic signal is price crossing the average, and a separate one comes from a faster average crossing a slower one. Traders also use a longer period average as a trend filter and a pullback to a shorter one, commonly the 20 or 21 EMA, as an entry. Because a moving average lags, its signals arrive after the move has started, so experienced traders confirm it with other technical indicators such as RSI, MACD or volume rather than acting alone.
What Is a Simple Moving Average (SMA)?
The simple moving average, or SMA, is the sum of an asset's last N closing prices divided by N. Every close in that window carries identical weight, so a price from the start of the window counts as much as today's close, and the oldest close drops out entirely the moment a new one enters.
The SMA recalculates every period, which moves the line along the chart, and works on any period unit. On daily charts, the 50 day and 200 day SMA are the most closely watched settings, the 50 day reading the intermediate trend and the 200 day the long term one. That equal weighting is also the SMA's weak point, a stale spike still weighs as much as yesterday's close until it drops out.
How SMA Is Calculated
Calculating the SMA means summing the closing prices over the chosen number of periods and dividing that sum by the same number. Each new candle adds its price to the sum and drops the oldest price in the window, so the total always covers the same number of periods, and every price inside it counts the same amount, however old it is, which is what "equal weighting" means in plain English.
What Does the SMA Tell You?
The SMA tells a trader the direction and strength of the underlying trend through its slope, rising for an uptrend, falling for a downtrend, flat for a ranging market with daily spikes smoothed out.
The line also acts as a level, a floor under price in an uptrend, a ceiling above it in a downtrend, most visible at the widely watched 50 day and 200 day settings that institutions and algorithms track.
Its main signal is a crossover between two periods, a golden cross when a shorter SMA crosses above a longer one, a death cross when it crosses below. Equal weighting gives the SMA fewer whipsaws than an EMA at the same period, but at a cost, a reversal only registers once the move is well underway. The SMA does not predict where price is headed, it only confirms a shift after enough closes have moved the average.
What Is an Exponential Moving Average (EMA)?
The exponential moving average, or EMA, weights recent closing prices more heavily than older ones. Instead of dropping an old price out in one step the way the SMA does, the EMA lets its influence fade exponentially, applied through a multiplier of 2 divided by the period plus 1, larger for shorter periods.
Because recent price carries more weight, the EMA reacts faster and lags less than an SMA of the same period. Traders use short settings such as 8, 9, 12, 20 or 21 for momentum and longer settings such as 50 or 200 for trend. Price above the line reads bullish, below it bearish, and on pullbacks it acts as dynamic support or resistance. The EMA remains a lagging indicator despite its speed, still producing false breakouts sideways, and a higher period is not a "better" EMA, only a slower one.
How EMA Is Calculated
The EMA starts from a simple average of the first block of closing prices, which seeds the calculation. From there, every new close blends in using the multiplier, so each fresh price nudges the line while the previous EMA value carries most of the remaining weight forward. A shorter period uses a larger multiplier, so a fast EMA leans harder on recent price than a slow one, and older closes never drop out the way they do on the SMA, they simply fade in influence.
What Does the EMA Tell You?
The EMA tells a trader the direction and strength of momentum. Price above it reads bullish, below it bearish, and the steepness of its slope reads the strength of that momentum, a flat EMA signalling a range just as a flat SMA does.
The line also gives dynamic support and resistance where pullbacks tend to bounce, and because it tracks price more closely than the SMA, that level moves with the market. Its main signal is a faster EMA crossing a slower one, commonly paired as 9 and 21 for scalping, 20 and 50 for pullbacks, and 50 and 200 for macro shifts, the 9 giving fast entries, the 20 reading structure, and the 200 working as a long term bias filter.
The EMA is lagging by construction just as the SMA is, describing what price has already done, and its speed costs more signals, more of them false in a choppy market.
How to Calculate SMA and EMA
Both formulas are simple once the weighting is clear. The next two sections give the SMA and EMA formulas, and the worked example after them runs both calculations on the same ten closing prices side by side, so the difference between the two lines shows up as an actual number rather than a description.
Simple Moving Average Formula
The SMA formula is the sum of the closing prices over n periods, divided by n, written as SMA = (P1 + P2 + ... + Pn) / n, where P is the closing price and n the number of periods. Calculating it means choosing n, adding the n most recent closes, and dividing by n, each new period dropping the oldest close and adding the newest. Every close carries identical weight, so the oldest price counts exactly as much as today's close.
Given the five closes 10, 11, 12, 11 and 14, the sum is 58 and 58 divided by 5 gives an SMA of 11.60. Choosing n follows the trader's time horizon, 20 and 50 for a short to medium term read, 200 for a long term one, and on a daily chart the 20 SMA covers roughly a month, the 50 SMA a quarter and the 200 SMA a year.
Exponential Moving Average Formula
The EMA formula is EMA = (close × multiplier) + (previous EMA × (1 − multiplier)), also written as EMA = multiplier × (close − previous EMA) + previous EMA. The multiplier, or smoothing factor, is 2 divided by n plus 1, for a 20 period EMA that works out to 2 divided by 21, or about 0.0952, meaning the newest close makes up roughly 9.52 percent of the new value. A larger n produces a smaller multiplier and a slower, smoother line.
The first EMA value is seeded with a simple average, an SMA, of the first closes. From there, every close blends in through the multiplier, older closes decaying in influence exponentially rather than dropping out in one step the way they do on the SMA. The 12 and 26 EMA are worth naming here as the one pair outside the 9, 20, 50 and 200 convention, since they are the canonical case that builds MACD.
Worked Example, SMA and EMA on the Same 10 Closes
The clearest way to see the difference is to run both lines on the same data. The table below uses ten illustrative closing prices, in rupees, on a 5 period setting, with a multiplier of 2 divided by 6, or 0.3333. These figures are illustrative only, not live market data, and the EMA is seeded with the day 5 SMA, the standard approach.
The arithmetic for day 7, (2436 × 0.3333) + (2424.00 × 0.6667) = 2428.00.
Day 7 is the first down close, and the two lines respond differently, the SMA still rising, from 2424.00 to 2429.60, while the EMA has already turned down, to 2428.00, and keeps falling. The EMA registers the reversal a full session before the SMA does, and by day 10 sits 9.13 below it on identical data.
EMA vs SMA: The Key Differences
The key differences between the EMA and the SMA all trace back to one thing, how each weights price. That difference is what makes the EMA react faster and the SMA lag more, and what makes the EMA prone to more false signals. Both remain lagging indicators regardless of which is faster, neither predicts price. Comparing the two at the same period, for example a 200 SMA against a 200 EMA, isolates the difference cleanly. Many traders skip choosing altogether and run both together, a slower SMA such as the 200 for trend bias and a faster EMA such as the 9 or 21 for entries within it.
Price Weighting
Price weighting is the root difference the rest of this comparison traces back to. The SMA treats every close in its window the same, so a price from three weeks ago counts exactly as much as today's close. The EMA front loads its weighting toward the most recent closes and fades older ones out gradually, which is why the two lines diverge everywhere else in this comparison.
Reaction Speed and Lag
On the worked example above, using an identical 5 period setting, the EMA turned down a full session before the SMA did, and by the tenth close had pulled 9.13 below it, a measured cost of the SMA's equal weighting against the EMA's front loaded weighting.
The EMA's multiplier front loads recent closes, so the line moves as soon as a new close arrives, while the SMA weights every close equally. Lag grows with period length on both lines, and the EMA only reduces lag, it never removes it. Speed buys an earlier entry at the cost of more false starts, lag buys a safer signal at the cost of a later entry, which is why speed matters most intraday and lag is easier to tolerate on a daily or weekly hold.
Sensitivity to Recent Price Moves
A single large candle moves the EMA immediately and barely shifts the SMA, because the EMA's multiplier gives the newest close the largest weight, while the SMA divides that candle's impact equally across the window.
Shorter periods are more sensitive on either line, a 5 period average reacting to almost every tick while a 50 or 200 period one barely notices it. Higher sensitivity buys an earlier signal at the cost of more noise, which is where the SMA's smoothness earns its keep, forming a stable level at the 200 day setting. Matching sensitivity to how long a trader holds a position, rather than to preference, is what makes either line useful.
False Signals and Whipsaws
A whipsaw is a moving average signal that triggers an entry, price immediately reverses, and the trade gets stopped out. Both lines whipsaw in sideways, choppy markets, the EMA firing more false crossovers since minor pullbacks are enough to flip a line weighted so heavily toward recent price, while the SMA's equal weighting smooths erratic ticks into fewer false signals, though not immune, only less often.
Three adjustments cut false signals, lengthening the lookback to a 50 or 200 period average, confirming a crossover with volume or a momentum oscillator, and trading only with a higher timeframe or 200 period bias. A crossover should never be traded in isolation.
Short-Term vs Long-Term Use
The weighting split maps directly onto the holding period. Equal weighting suits a longer hold, where one stale price early in a wide window should not swing the line. Recency weighting suits a shorter hold, where the last few candles matter most and the line needs to move with them.
EMA vs SMA: Which Should You Use?
Neither the EMA nor the SMA is better outright, the choice follows a time frame and holding period. The SMA and the EMA are both moving averages, not interchangeable names for the same thing.
Day traders overwhelmingly default to the EMA for its speed, running a 9 or 10 EMA as a fast trigger and a 20 or 21 EMA for a short term read. Position and swing traders lean more on the SMA, particularly the 50 EMA and 200 SMA combination. Most professionals use both, timing entries off the EMA while confirming trends off the SMA.
When SMA May Be Better
The SMA tends to work better in a few specific situations.
On longer time frames, daily and weekly charts, where a smoother read matters more than a fast one.
For swing and position holds, where a patient entry beats an early one.
In choppy or ranging markets, where equal weighting smooths out erratic swings and produces fewer false signals.
At major levels such as the 50 day and 200 day SMA, watched closely enough by institutions and algorithms that the level becomes partly self fulfilling.
A higher period SMA smooths further but adds lag, the trade off being late entries confirmed only once the move is underway.
When EMA May Be Better
The EMA tends to work better in the opposite set of situations.
For intraday, scalping and short term entries, where speed decides whether a trade is still worth taking.
When momentum shifts fast, common settings 9 and 21 for scalping, 9, 20 and 50 intraday, and 20, 50 and 100 for swing trades.
For pullback entries, buying dips toward a rising EMA as dynamic support.
For a two EMA pairing, a slower EMA such as the 50 setting the bias, a faster one such as the 20 timing the entry.
The trade off runs the other way too, an EMA setup fails more often sideways and never stops lagging no matter how fast it reacts.
EMA vs SMA by Trading Timeframe
Trader type maps fairly cleanly onto which average does more work. Scalpers and intraday traders lean on the EMA, since lag costs them the trade before it develops. Swing traders often run both, the EMA for entries and the SMA for bias. Position and longer term holders lean on the SMA, since daily noise matters far less over weeks or months.
EMA vs SMA by Market Condition
Market condition matters as much as trader type. In a trending market both work, the EMA simply gets a trader in and out sooner. In a ranging or choppy market both whipsaw, and the SMA's slower reaction gives fewer false signals at the cost of later entries. Neither average was built for sideways price, and confirmation matters most exactly when the market is quietest.
How Traders Use SMA and EMA
Using either average in practice comes down to three things, reading the line itself, reading where two lines cross, and reading how price behaves at the line.
Identifying Trends
A rising average reads as an uptrend, a falling one as a downtrend, and a flat one as a range with no clear direction. Slope matters more than price level, a steep slope signalling strong momentum, a shallow one a weaker, slower trend.
Trend Confirmation
A moving average confirms a trend rather than calling it early, turning only once enough closes have shifted the underlying calculation. Waiting for a full close on one side of the average, rather than acting on a single touch, filters out most of the false starts that come from reacting too soon.
Moving Average Crossovers
A crossover happens when a faster average crosses a slower one, signalling that the shorter term trend is shifting against the longer term one. It describes what has already happened rather than what is about to happen, lags by design, and works best alongside a confirming signal rather than on its own.
Golden Cross
A golden cross is a shorter average crossing above a longer one, most commonly the 50 crossing above the 200. It is read as buyers taking control, though by the time it prints on the chart, the underlying shift has usually already been underway for a while.
Death Cross
A death cross is the mirror setup, the 50 dropping below the 200, read as sellers taking control. Not every death cross leads to a sustained decline, and a meaningful share has formed near market bottoms rather than at the start of a real breakdown, which is why it is read alongside price structure rather than acted on alone.
Moving Average Support and Resistance
Price tends to bounce off a rising average as support and reject a falling average as resistance, most visibly at the widely watched 50 and 200 settings. Part of why these levels hold is self fulfilling, enough traders watch the same line that orders genuinely cluster there. A decisive close through the level, or a flattening slope, invalidates the zone.
Which Moving Average Periods and Settings Should You Use?
The standard lookbacks are 10, 20, 50, 100 and 200, organised into three speed buckets, 5 to 15 fast, 20 to 50 medium, and 100 to 200 slow. A shorter period gives more signals and more whipsaw, a longer one more lag, and the pairing logic running through most settings is a slow average setting the bias while a fast one times the entry, for example a 20 EMA with a 50 SMA for day trading, or a 50 EMA with a 200 SMA for swing trading, with the 200 SMA standing alone as the benchmark trend line.
The EMA's multiplier is sometimes called the smoothing length, worth defining since it rarely gets explained elsewhere, it is 2 divided by the period plus 1. A period is also relative to the chart it sits on, 20 on a 15 minute chart covers a very different stretch of time than 20 on a daily chart.
Common SMA Periods
The 10 and 20 day SMA track short term swings, the 50 day SMA works as a medium term filter, and the 100 and 200 day SMA mark the long term trend. The 200 day SMA is watched across the market as a whole, part of why it behaves as a self fulfilling level.
Common EMA Periods
The 9 and 21 EMA suit scalping and fast entries, the 20 and 50 EMA suit swing entries and pullbacks, and the 200 EMA works as a long term bias filter. Stacking more than two or three EMAs on one chart mostly repeats the same information in a different colour.
Best Moving Average Settings for Intraday Trading
Intraday settings pair a fast average with a stop and an exit rule, not just a period number.
9 EMA with 21 EMA, for scalping and fast momentum entries.
20 EMA with 50 SMA, the standard day trading combination.
50 EMA with 200 SMA on the 1 hour chart, for session bias.
The 5, 8, 13 stack, a Fibonacci EMA set and the most repeated intraday setup in this search, run here as an EMA for the speed it is built for.
Fan alignment matters on a stack like the 5, 8, 13, the shortest period on top signalling a long bias, entering on a close above the cluster or a pullback to the 8, with a stop beyond the recent swing high or low and an exit either aggressive, on the 5 recrossing the 8, or conservative, on an 8 and 13 cross. One minute EMAs are too noisy for this, even a 200 period average covers under two sessions on a 1 minute chart, so use 5 or 15 minutes instead and avoid the stack in sideways price.
Best Moving Average Settings for Swing Trading
Swing trading settings pair a shorter EMA for momentum with a longer average for bias. The 20 or 21 EMA, roughly a month of data, works for pullback and momentum entries, the 50 EMA or SMA works as an intermediate trend filter, and the 200 SMA, roughly a year, marks the macro bias. The 20 and 21 settings are quoted about as often as each other and are interchangeable.
A common dual filter takes long entries only when the 20 EMA sits above the 50 SMA, and a common setup buys the bounce off a 21 EMA while price holds above it. A 50 and 200 crossover is the golden cross or death cross described earlier. The EMA handles the trigger for less lag, the SMA handles the macro read for less noise, and the 50 EMA's own slope reads momentum, steep or flat. There is no single best setting, it depends on style and timeframe, and a 9 or 10 EMA is too fast for a multi day hold. For the strategies built around this holding period, see TMGM's swing trading strategies guide.
Why Everyone Watches the 200 Day Moving Average
The 200 day moving average, often shortened to the 200 DMA, is the average close over 200 trading days, roughly 10 months. Price above it reads as a long term bullish bias, below it bearish, and institutions and large funds use it as a reference for their own decisions.
Part of why it works is self fulfilling, so many participants watch the same line that its reactions become a genuine driver of price, acting as a dynamic floor or ceiling. A 50 and 200 crossover reads as a golden cross when bullish and a death cross when bearish, and the 200 DMA sits at the slow end of the 50, 100 and 200 day family. It remains a lagging measure, its signals arriving late in a fast reversal, and longer horizon investors sometimes track the 200 week version for an even slower read.
Can You Use SMA and EMA Together on the Same Chart?
Yes, running an SMA and an EMA on the same chart is a standard combination, since each line does a different job. At the same period, the EMA hugs the candles while the SMA trails behind, the clearest visual read on why the two behave differently. A typical pairing runs a 200 SMA as the bias and a 9, 20 or 21 EMA for pullback entries within it, trading only in the SMA's direction.
A fast EMA crossing the slower SMA reads as a possible momentum shift against that baseline. The EMA remains more prone to whipsaws and the SMA still gives fewer false signals, sharing a chart does not remove that trade off. A distinct colour and label for each line, and a cap of two or three moving averages, keeps the chart readable.
Why Combine SMA and EMA?
The SMA alone reacts too slowly to time an entry, and the EMA alone throws more false signals than most traders can comfortably act on. Combining the two splits the job, the SMA holding a steady bias, the EMA timing entries inside it, one setting direction and the other timing the move.
Using EMA for Short-Term Signals and SMA for Trend
The concrete pairing runs a slow SMA, often the 200, for bias, and a fast EMA, commonly the 9, 20 or 21, for entries, trading only in the direction the SMA has established. An EMA crossing the SMA against that bias flags a possible momentum shift worth attention rather than an automatic trade. Keeping the lines visually distinct and capping the chart at two or three averages keeps the pairing readable.
Where Moving Averages Fall Short
Lag is the headline limitation of any moving average. Both the SMA and the EMA are backward looking by construction, built entirely from prices that have already happened, confirming a trend rather than predicting one. In a ranging market both whipsaw and produce false breakouts, and the period that looks best after the fact is always chosen with hindsight.
A moving average also ignores fundamentals entirely, saying nothing about earnings, management, demand or macro news. No period is portable across assets, a setting that works on one instrument can fail on another. Shorter periods buy sensitivity at the cost of more false signals, longer periods buy smoothness at the cost of reacting slowly, and a flat slope is the clearest tell that a moving average is not doing useful work right now. If lag specifically is the problem, a zero lag exponential moving average trades some of that smoothness for an even faster read, though it does not remove the lag entirely. The fix is not to abandon the moving average but to pair it with volume or a momentum filter such as RSI, MACD or VWAP, since a crossover traded alone is generally not a profitable approach.
Common Moving Average Mistakes
Four mistakes account for most of the ways traders lose money using moving averages. None of the setups below are guaranteed to work, and no combination of settings removes that risk.
Treating the Moving Average as a Standalone System
Using a moving average alone as a buy or sell trigger fails because lag, noise driven false crossovers and gradual capital erosion compound with every trade taken on the signal alone. The fix is confirmation, pairing the average with volume, a momentum oscillator such as RSI, or support and resistance and price structure, and attaching a clear stop loss and exit rule rather than relying on the next crossover to get out.
Stacking Too Many Lines on One Chart
The practical cap most traders settle on is sometimes called the 2 plus 1 rule, one trend average, one momentum indicator, one optional filter, and two moving averages is usually already enough. Stacking an SMA, an EMA and a weighted moving average together is not confluence, it is the same math shown three times, producing conflicting signals, analysis paralysis, and a lag effect that compounds across the chart. A cluttered chart also hides the price structure underneath, inviting a trader to build a narrative around the mess. The fix is to move oscillators into their own sub panel and keep price overlays to a minimum, since real confluence comes from different types of evidence, not more lines from the same formula.
Reading a Crossover as a Certainty
A crossover fails often, especially in a ranging market, and while a death cross carries a commonly cited historical failure rate for calling a sustained decline, that figure is specific to the death cross and should not be generalised to crossovers as a whole. A crossover is also lagging by nature, and on its own carries no information about nearby support or resistance or whether buyers will defend a pullback. The fix runs in three parts, confirm the cross with volume, RSI or price structure, align it with the higher timeframe trend, and wait for a candle to close beyond the lines rather than entering on the touch. No indicator, including a crossover, guarantees an outcome, and this holds just as true for MACD crossovers as for a simple SMA or EMA cross.
Using a Period That Doesn't Match Your Holding Time
Chart timeframe and moving average period are two separate settings, and the mistake is failing to align both with how long a trade is actually meant to be held. A slow average on a fast chart signals after the move it was meant to catch has already ended, and a fast average on a multi week hold reacts to routine daily noise and trips the stop early.
Matching period to holding time roughly follows trading style, scalping on 1 to 5 minute charts with holds in seconds to minutes, intraday on 5 to 15 minute charts with holds in hours, swing on 1 hour to daily charts with holds in days to weeks, and position trading on daily or weekly charts using the 50 and 200 settings for holds in months. Daily candles can hide an intraday reversal that stops a shorter term trader out without ever showing on the higher timeframe. For more on telling these styles apart, see TMGM's scalping vs day trading vs swing trading guide.
FAQs
Is the EMA Better Than the SMA?
No, the EMA is faster, not more accurate. It weights recent closes more heavily, trading less lag for more whipsaws, while the SMA weights every close equally for a smoother, laggier line and a more widely watched baseline. Both read the same data, just weighted differently, and neither predicts price, the better fit depends on time frame and strategy.
Is SMA or EMA Easier for Beginners to Use?
The SMA suits most beginners best. Its equal weighting is simple enough to compute by hand, summing the closes and dividing by the period count, and its smoother line means fewer false signals while a beginner learns to read trend and support and resistance. A 20 or 50 SMA on a daily chart is a sensible start, with the EMA's speed, and its extra whipsaws, worth adding once charts feel familiar.
What Period Should I Set My Moving Average To?
It depends on the trading style. The 5 to 20 range suits intraday and short swings but reacts to more noise, 50 works as a medium term filter covering roughly two months of daily bars, and 100 to 200 suits long term direction and major support and resistance at the cost of heavier lag. The 12 and 26 EMA are the standard pair reserved for MACD rather than general use. Pairing one fast and one slow setting, for example 50 and 200, sets up crossover signals, and because no period is universally correct, backtesting before risking capital is the safer approach.
