QG-Particle Oscillator

This is an advanced oscillator based on auxiliary particle filter. It separates signal from noise and uses smoothing algorithm similar to JMA.

The main oscillator line is a smoothed and detrended version of the price series similar to detrended oscillator line. The purple/aqua lines are a prediction based on an additional adaptive smoothing technique and current volatility.

The prediction is smoothed twice and is supposed to represent the true signal without any noise, thus the prediction should always be less than the raw detrend line. However, certain volatile conditions will cause the prediction to cross above/below the detrend line. When this happens the likelihood of a reversal or pullback is extremely high.

There are 3 dots on the zero line- Red, Green and Yellow. The yellow dots warn of an eminent pullback 2 bars before it actually occurs. This is a non-repainting indicator.

One can also use this indicator to trade CCI signals, similar to zero line rejection in existing trend.
The indicator has 2 settings- Period and Phase. The phase represents cycle phase and Period represents oscillator period.

Credits: This indicator has been originally published for Ninjatrader and this is conversion into pinescript.