♒Hurst Cycle Channel Oscillator v1.0 by Cryptorhythms
👀 This one was not in the public library yet. Thanks to lazybear for the original Hurst Cycle Channel code, which was used to create this.
📜 Description In the late 60's a NASA aerospace engineer J.M. Hurst published ‘The Profit Magic of Stock Transaction Timing’. Ironically, his book, by some considered the best book ever written about stock market cycles and swing trading, became available during the deepest and most extended Bear Market since the Great Depression. From 1972 on brokers couldn't give blue chip stock away in a Wall Street lunchroom. There was no market for a book by a stock market timer, and the book became a hidden treasure.
The Oscillator version of channel cycle was not on tradingview yet, so here you go, hope you all enjoy! The Hurst Channels and the Hurst Oscillator, be it combined or separate, can be implemented to uncover turning points in all time frames. Note that the Hurst Oscillator is basically just another presentation of the position of price in the Hurst Channel.
You can use it similar to an RSI looking for divergences. Also similar to a ema fast/short cross strategy when you use the signal line as entry/exit. You can also of course use the overbought/oversold zones as well.
Here is a screenshot with the example of bar coloration:
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Notas de Lançamento
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Version 1.1 introduces automatic divergence detection.
Thanks to ricardo santos for his implementation of divergence
Mate just wanted to say thanks, this indicator has proven to be very helpful especially scalping the one min. Had it on my chart for a few months now and I have had a few good wins because of it. Thanks again
theheirophant
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@Garson, comments like this make my day. super happy mate! Go stack that cheddar!
andrewmarcus
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Thank you for this great work! Can you describe why this indicator shows values greater than 1 and lower than 0? Hurst exponent lies within 0-1 range, doesn't it?
theheirophant
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@andrewmarcus, Thanks for the kind words! This indicator is not showing the actual hursdt exponent. Its showing you an oscillator version of the hurst channel bands (which are normally displayed on the price chart). So when price is above 1 or below 0 it means price has deviated outside the hurst channel, and this maybe an area of interest for entry/exit of a trade position.
andrewmarcus
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@theheirophant, thanks! Just learnt that there were two different Hurst and no connection between Edwin Hurst exponent with JM Hurst cycles.
theheirophant
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@andrewmarcus, its okay, common misconception! Both are awesome minds though, so enjoy the new teacher =)