OPEN-SOURCE SCRIPT
Trend Extractor
Cập nhật
First off, I'm a huge John Ehlers admirer. Been learning a lot from him. This indicator was inspired by his Super Bandpass Filter.
The goal of this indicator, which I'm calling "Trend Extractor" for lack of a better name, is to identify trends and filter out choppy market movements, similar to the Super Bandpass Filter,... but arguably more customisable. Personally, I've had better results with this Trend Extractor.
A brief overview of how it works:
The price changes are averaged over the lookback period using the Arnaud Legoux Moving Average (ALMA), which has been chosen for its superb versatility.
For instance, with Offset 1 and Sigma 0, it behaves like a SMA, and with Offset 1.1 and Sigma 2, it behaves like a WMA. So, feel free to tweak and experiment.
The purple lines are the positive and negative root mean square (RMS) of the main line, and act as signal lines.
The higher the Smoothing, the smoother the main line, at the cost of greater lag. Default is 1, that is, none. I'd suggest going not higher than 5.
Signals are straightforward to interpret. Trending up when green, trending down when red, and ranging when gray.
Your feedback is very well appreciated. Thank you. :)
The goal of this indicator, which I'm calling "Trend Extractor" for lack of a better name, is to identify trends and filter out choppy market movements, similar to the Super Bandpass Filter,... but arguably more customisable. Personally, I've had better results with this Trend Extractor.
A brief overview of how it works:
The price changes are averaged over the lookback period using the Arnaud Legoux Moving Average (ALMA), which has been chosen for its superb versatility.
For instance, with Offset 1 and Sigma 0, it behaves like a SMA, and with Offset 1.1 and Sigma 2, it behaves like a WMA. So, feel free to tweak and experiment.
The purple lines are the positive and negative root mean square (RMS) of the main line, and act as signal lines.
The higher the Smoothing, the smoother the main line, at the cost of greater lag. Default is 1, that is, none. I'd suggest going not higher than 5.
Signals are straightforward to interpret. Trending up when green, trending down when red, and ranging when gray.
Your feedback is very well appreciated. Thank you. :)
Phát hành các Ghi chú
For those who want to get more surgical:Added an option to set a custom length for the RMS Bands (Off by default).
Added a multiplier for the RMS Bands (1.0 by default).
Phát hành các Ghi chú
Added Bar Color change optionMã nguồn mở
Theo tinh thần TradingView thực sự, tác giả của tập lệnh này đã xuất bản dưới dạng nguồn mở để các nhà giao dịch có thể hiểu và xác minh. Chúc mừng tác giả! Bạn có thể sử dụng miễn phí. Tuy nhiên, bạn cần sử dụng lại mã này theo Quy tắc nội bộ. Bạn có thể yêu thích nó để sử dụng nó trên biểu đồ.
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