Universal Oscillator by Mr. Ehlers is an evolution of his SuperSmoother filter. The new indicator follows the swings in price without introducing extra delay.
It is controlled through one single input – the band edge – which basically is frequency. The smaller it is set, the less lag there is, but you may see lot of whipsaws. Built-in automatic gain control normalizes the output to vary between the range of -1 to +1.
Mr. Ehlers suggests a straightforward system:
- Buy when long-term Universal Oscillator crosses above zero
- Sell when long-term Universal Oscillator crosses below zero
I have added options to draw a signal line, histogram and bar coloring. Bar coloring, if enabled, is done using the histogram color, but you can change it easily to signal_cross by uncommenting a line (check the source).
More info:
Whiter is Brighter - Ehlers
List of my other indicators:
- GDoc: docs.google.com...ByMEvm5MLo/edit?usp=sharin...
- Chart:
It is controlled through one single input – the band edge – which basically is frequency. The smaller it is set, the less lag there is, but you may see lot of whipsaws. Built-in automatic gain control normalizes the output to vary between the range of -1 to +1.
Mr. Ehlers suggests a straightforward system:
- Buy when long-term Universal Oscillator crosses above zero
- Sell when long-term Universal Oscillator crosses below zero
I have added options to draw a signal line, histogram and bar coloring. Bar coloring, if enabled, is done using the histogram color, but you can change it easily to signal_cross by uncommenting a line (check the source).
More info:
Whiter is Brighter - Ehlers
List of my other indicators:
- GDoc: docs.google.com...ByMEvm5MLo/edit?usp=sharin...
- Chart:
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
//
// @author LazyBear
// List of all my indicators:
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
//
study("Universal Oscillator [LazyBear]", shorttitle="UNIOSC_LB")
bandedge= input(20, title="BandEdge")
showHisto=input(true, type=bool, title="Show Histogram?")
showMA=input(false, type=bool, title="Show Signal?")
lengthMA=input(9, title="EMA signal length")
enableBarColors=input(false, title="Color Bars?")
whitenoise= (close - close[2])/2
a1= exp(-1.414 * 3.14159 / bandedge)
b1= 2.0*a1 * cos(1.414*180 /bandedge)
c2= b1
c3= -a1 * a1
c1= 1 - c2 - c3
filt= c1 * (whitenoise + nz(whitenoise[1]))/2 + c2*nz(filt[1]) + c3*nz(filt[2])
filt1= iff(cum(1) == 0, 0, iff(cum(1) == 2, c2*nz(filt1[1]),
iff(cum(1) == 3, c2*nz(filt1[1]) + c3*nz(filt1[2]), filt)))
pk= iff(cum(1) == 2, .0000001,
iff(abs(filt1) > nz(pk[1]), abs(filt1), 0.991 * nz(pk[1])))
denom= iff(pk==0, -1, pk)
euo=iff(denom == -1, nz(euo[1]), filt1/pk)
euoMA=ema(euo, lengthMA)
hline(0)
plot(showHisto ?euo:na, style=histogram, color=euo>0?green:red, title="Histogram")
plot(euo, color=maroon, linewidth=2, title="EUO")
plot(showMA?euoMA:na, color=teal, title="Signal", linewidth=1)
barcolor(enableBarColors?euo>0?green:red:na)
//Use this if signal cross should be used for barcoloring.
//barcolor(enableBarColors?(euo>euoMA ? green : red):na)
