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These 2 indicators are derivative work from Jim Hurst's book - "The Magic of Stock Transaction Timing".
The bands are % bands around a median that gets calculated according to Hurst's formula. The outer bands (called ExtremeBands) signify extreme overbought/oversold conditions. Inner bands signify potential pullback points. As you can see, they also act as dynamic S/R levels.
The oscillator bands match the bands overlaid on price, so you will get an excellent indication of where the price is gonna do by using the oscillator along with the bands. Note that Hurst Oscillator can be used separately too, there is no technical dependency on Hurst Bands.
More info on Hurst Method:
http://www.readtheticker.com/Pages/IndLi...
The bands are % bands around a median that gets calculated according to Hurst's formula. The outer bands (called ExtremeBands) signify extreme overbought/oversold conditions. Inner bands signify potential pullback points. As you can see, they also act as dynamic S/R levels.
The oscillator bands match the bands overlaid on price, so you will get an excellent indication of where the price is gonna do by using the oscillator along with the bands. Note that Hurst Oscillator can be used separately too, there is no technical dependency on Hurst Bands.
More info on Hurst Method:
http://www.readtheticker.com/Pages/IndLi...
// // @author LazyBear // // If you use this code in its original/modified form, do drop me a note. // study("Hurst Bands [LazyBear]", shorttitle="H%Bands_LB", overlay=true) price = hl2 length = input(10, title="Displacement length") InnerValue = input(1.6, title="Innerbands %") OuterValue = input(2.6, title="Outerbands %") ExtremeValue = input(4.2, title="Extremebands %") showExtremeBands = input(false, type=bool, title="Display Extreme Bands?") showClosingPriceLine = input(false, type=bool, title="Plot Close price?") smooth = input(1, title="EMA Length for Close") displacement = (length / 2) + 1 dPrice = price[displacement] CMA = not na(dPrice) ? sma(dPrice, abs(length)) : nz(CMA[1]) + (nz(CMA[1]) - nz(CMA[2])) CenteredMA=plot(not na(dPrice) ? CMA : na, color=blue , linewidth=2) CenterLine=plot(not na(price) ? CMA : na, linewidth=2, color=aqua) ExtremeBand = CMA * ExtremeValue / 100 OuterBand = CMA * OuterValue / 100 InnerBand = CMA * InnerValue / 100 UpperExtremeBand=plot(showExtremeBands and (not na(price)) ? CMA + ExtremeBand : na) LowerExtremeBand=plot(showExtremeBands and (not na(price)) ? CMA - ExtremeBand : na) UpperOuterBand= plot(not na(price) ? CMA + OuterBand : na) LowerOuterBand= plot(not na(price) ? CMA - OuterBand : na) UpperInnerBand= plot(not na(price) ? CMA + InnerBand : na) LowerInnerBand= plot(not na(price) ? CMA - InnerBand : na) fill(UpperOuterBand, UpperInnerBand, color=red, transp=85) fill(LowerInnerBand, LowerOuterBand, color=green, transp=85) FlowValue = close > close[1] ? high : close < close[1] ? low : hl2 FlowPrice = plot(showClosingPriceLine ? sma(FlowValue, smooth) : na, linewidth=1)

Joy_Bangla
How do you get the oscillator bands ?
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CodeGangsta
How do we get the oscillator please?
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shayneq
Thanks for your hard work. I will try it and give a donation if successful. Cheers
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yanmg33
Hi, sir, just found your post and sharing wonderful, but i'm currently using Multicharts, do you have the code which can be read in Multicharts?
+1
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rtbalag
sir above ami broker code error com , can u post or send mail me amibroker afl for hurst oscillator
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thegreatway
Im not able to show the HO oscillator at all just the bands, is the indicator still valide?
+9
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MONEYMENOW
Works well with 30 60min and 1 hour chart.. fails for 5m and dialy chart
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syracusepro
Can you help in thinkscript translation for the following? CMA = not na(dPrice) ? sma(dPrice, abs(length)) : nz(CMA) + (nz(CMA) - nz(CMA)) Thanks.
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glaz
syracusepro
its a transaltion from thinkscript to pinescript but dosnt work couse it cant look in the future like the original code http://indexswingtrader.blogspot.gr/2012/07/hurst-channels-and-oscillator.html
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syracusepro
glaz
Thanks.
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