Level: 2 Background John F. Ehlers introuced Predictive Average in his "Rocket Science for Traders" chapter 20 on 2001. Function The concept of taking a difference of lagging line from the original function to produce a leading function suggests extending the concept to moving averages. There is no direct theory for this, but it seems to work pretty well. If...
Level: 2 Background John F. Ehlers introuced Optimum Predictor in his "Rocket Science for Traders" chapter 20 on 2001. Function As we have seen before, the majority of the code involves the computation of the period using the Homodyne Discriminator algorithm. Once the period has been computed, the Optimum Predictor is found in just a few lines of code....
Level: 2 Background John F. Ehlers introuced the Distance Coefficient Ehlers Filter in his "Rocket Science for Traders" chapter 18 on 2001. Function Dr. Ehlers considered the gray shading levels as distances, he had away of computing filter coefficients in terms of sharpness of the edge. White is the maximum distance in one direction from the median gray, and...
Level: 2 Background John F. Ehlers introuced Ehlers Filter in his "Rocket Science for Traders" chapter 18 on 2001. Function blackcat L2 Ehlers Filter is used to follow trend. The filters Dr. Ehlers have invented are nonlinear FIR filters. It turns out that they provide both extraordinary smoothing in sideways markets and aggressively follow major price...
Level: 2 Background John F. Ehlers introuced MESA Adaptive Moving Average-a.k.a "MAMA" in his "Rocket Science for Traders" chapter 17. Forgive the whimsy of the name Dr. Ehlers attached to this unique indicator, but with that name he is sure you will always remember it, like KAMA and VIDYA. Function blackcat L2 Ehlers MESA Adaptive Moving Average-a.k.a...
Level: 3 Background John F. Ehlers introuced ZeroLag Intraday Trading System in his "Rocket Science for Traders" chapter 16. Function blackcat L3 EhlersZeroLag Intraday Trading System is used to find proper long and short entries. Dr. Ehlers developed a completely automatic ZeroLag Intraday Trading System. The concepts of the Instantaneous Trendline and the...
To display the Heikin Ashi candle direction on your normal chart, using this script is better than switching between layouts. It includes different display modes so that you can use it alongside other indicators without clashing visually (bar colour/plotted shapes/shapes on flip only), and alerts on changes in direction. Many scripts include some or other of these...
Level: 2 Background John F. Ehlers introuced Automatic SineTrend Trading System in his "Rocket Science for Traders" chapter 12. Function blackcat L2 Ehlers Automatic SineTrend Trading System is used to find proper long and short entries.Dr. Ehlers developed a completely automatic trading system called the SineTrend Automatic System based on the rules in his...
This Script is designed to show repeating pattern in the market, encountered by gaps. Depending on the Gap, the Lines will be drawn in the selected color. The Gap is checked from the lowest point of the old candle-body to the highest point of the new candle body for a bearish Gap and vice versa for bullish Gap. The Script allows to: - enable bearish gaps, bullish...
I use supertrend for for trailing stops. One of the problem of trailing stops in long term trend trading is we get stopped too early and then trend continues. To avoid this problem, we can limit or delay our trailing. In this modified version of supertrend, we can delay trailing by two methods: Bars : Trail after certain bars. Input DelayBars says after...
Plots realtime basis points (bps) based on last bar's close price. Original idea by @redxbt Options to configure: Show up to 19 Show only odd numbered Change main horizontal colors Change line width
just a modify type of renko candles it not renko but it use some of it princeples red is bearish lime is bullish the ATR length control how this candles behave
This is a bandpass filter oscillator that has an additional tuning parameter in addition to the Period used by John Ehlers. It is 'quality' which has meaning in a frequency/magnitude sense (See Q in line 7). The bandpass is slower according to the inverse of Q. The concept was developed by John Lane etal in the text 'DSP Filters' The bandpass filter works...
A very basic script that changes the background color of the chart to Green if the price closes over the previous day close, and to Red if the price closes under the previous day close. This allows you to easily see if it is currently a Bull or Bear market with a glance. Alerts added.
Level: 2 Background John F. Ehlers introuced Market Mode Identifier in his "Rocket Science for Traders" chapter 11. The simplified model of the market, derived from the Drunkard's Walk problem, has only two modes-the Cycle Mode and the Trend Mode. Through the derivation of the Sinewave Indicator and the Instantaneous Trendline, Ehlers had shown several ways to...
Dear Followers, today I'm happy to share with you my Stops Hunting indicator. This indicators draws lines on important levels, where traders are supposed to set their own stop loss orders . As per default values you will see sellers (short) stoploss prices as red lines buyers (long) stoploss prices as green lines Market maker move prices towards...
Level: 2 Background John F. Ehlers introuced Instantaneous Trendline (IT) in his "Rocket Science for Traders" chapter 10. Dr. Ehlers hope IT can enable us to compute a continuous trendline from which we can rapidly assess market action. Function blackcat L2 Ehlers Instantaneous Trendline (IT) is used to follow trend. IT is important because the dominant...
First of all, I must say that this script wouldn't be possible without the help of one of the best script developers on TradingView - @ahancock (thanks a bunch for your help) This script draws opening ranges for each of the sessions - Tokyo, London and New York and plots session high, low and pivot range of the previous session. So if you trade London session -...