OPEN-SOURCE SCRIPT
Cosine IFM [Ehlers]
This indicator provides a continuous measurement of a securities' dominant cycle period, based on Ehlers ever-impressive reports and analysis tools.
>What does that even mean?
Essentially, you get a real-time (low lag) plot of the cycle period in bars. If the COS IFM reads "16" then you can expect the distance between swing highs and swing lows to be approx. 16 bars.
>How is this useful?
When you throw an RSI or MACD on your chart, you can now set the "Period" or "Length" value with confidence.
Knowing the dominant cycle period tells you that price reversal will occur around these intervals.
>Extending.
The better way to use this tool is by extending the script into any indicators that use a length or period that is set manually.
Simply use the "len" variable in your custom script to replace your input values.
Now you have a way to adaptively set the period value, using signal processing theory instead of just intuition ;)
PM if you have questions.
>What does that even mean?
Essentially, you get a real-time (low lag) plot of the cycle period in bars. If the COS IFM reads "16" then you can expect the distance between swing highs and swing lows to be approx. 16 bars.
>How is this useful?
When you throw an RSI or MACD on your chart, you can now set the "Period" or "Length" value with confidence.
Knowing the dominant cycle period tells you that price reversal will occur around these intervals.
>Extending.
The better way to use this tool is by extending the script into any indicators that use a length or period that is set manually.
Simply use the "len" variable in your custom script to replace your input values.
Now you have a way to adaptively set the period value, using signal processing theory instead of just intuition ;)
PM if you have questions.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Algo Trading Simplified 👉 PaxProfits.com
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Algo Trading Simplified 👉 PaxProfits.com
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Discover the easy way to manage Forex trading accounts. Trusted by traders globally.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.