OPEN-SOURCE SCRIPT
Ehlers Decycler Oscillator
This indicator was originally developed by John F. Ehlers (Stocks & Commodities , V.33:10 (September, 2015): "Decyclers").
The idea is still the same as for the Simple Decycler.
Mr. Ehlers suggested to virtually eliminate lag by getting rid of the very low-frequency components. So, he applied the high-pass filter to the simple decycler.
Mr. Ehlers recommended to use two instances of the Decycler Oscillator with different parameters (high-pass filter period and multiplier). As a result, he got the Decycler Oscillator pair.
The first oscillator (red line) has a period of 125 bars, the second one (yellow line) has a period of 100 bars.
The interpretation is straightforward:
The idea is still the same as for the Simple Decycler.
Mr. Ehlers suggested to virtually eliminate lag by getting rid of the very low-frequency components. So, he applied the high-pass filter to the simple decycler.
Mr. Ehlers recommended to use two instances of the Decycler Oscillator with different parameters (high-pass filter period and multiplier). As a result, he got the Decycler Oscillator pair.
The first oscillator (red line) has a period of 125 bars, the second one (yellow line) has a period of 100 bars.
The interpretation is straightforward:
- When the yellow line crosses over the red line, a trend reversal to the upside is indicated.
- When the yellow line crosses under the red line, a trend reversal to the downside is indicated.
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A list of FREE indicators:
bit.ly/2S7EPuN
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bit.ly/33MA81f
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tradingview.com/pricing/?share_your_love=everget
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