Ehler System

/_SECTION_BEGIN("Ehlers Instantaneous Trend");   

//
//  This is a zero lag trend indicator with an interesting predictive trigger.
//
//------------------------------------------------------------------------------

SetBarsRequired(200, 0);

// Ehlers ITrend
// from Ehlers, John F. Cybernetic Analysis for Stocks and Futures. Wiley. 2004. 
// Chapter 3, p. 21. Code on p. 24.

function ITrend(array, alpha)
{
  // initialize early array values and declare as array
  it = array;
  //it = (array[2] - 2*array[1] + array[0])/4; This initialization takes a long time to converge.
  for(i = 2; i < BarCount; i++)
  {
    it[i] = (alpha - alpha*alpha/4)*array[i] + 
         .5*alpha*alpha*array[i-1] -
         (alpha - .75*alpha*alpha)*array[i-2] +
         2*(1 - alpha)*it[i-1] -
         (1 - alpha)*(1 - alpha)*it[i-2];
  }
  return it;
} 

function ITrendTrigger(array)
{
  trigger = 2*array - Ref(array, -2);
  return trigger;
}

Med = (H+L)/2;

// Instantaneous Trend
//Plot(Med, "", colorBlack, styleLine);
trend = ITrend(Med, .07);
Plot(trend, "ITrend", colorBlue, styleLine);
Plot(ITrendTrigger(trend), "", colorRed, styleLine);
Buy = Cross(ITrendTrigger(trend),trend);
Sell = Cross (trend,ITrendTrigger(trend));
Cover = Buy;
Short = Sell;

PlotShapes(Buy*shapeUpTriangle,colorYellow);
PlotShapes(Sell*shapeDownTriangle,colorYellow);


_SECTION_END();

Colbar = IIf(trend < ITrendTrigger(trend),colorBlue,colorRed);
Plot (Close, "", Colbar,styleCandle);


 Title = EncodeColor(colorWhite)+ "LINKON'S PIVOT SYSTEM" + " - " +  Name() + " - " + EncodeColor(colorRed)+ Interval(2) + EncodeColor(colorWhite) +
 "  - " + Date() +" - "+"Op-"+O+"  "+"Hi-"+H+"  "+"Lo-"+L+"  "+ "Cl-"+C+"  "+ "Vol= "+ WriteVal(V)
//+ EncodeColor(colorRed)+   "\n Pivot High : "+ EncodeColor(colorWhite)+PH+EncodeColor(colorRed)+ "  Place LONG    Trigger at :"+EncodeColor(colorWhite)+ phfilter + EncodeColor(colorRed)+ "   SL of :"+ EncodeColor(colorWhite)+E_TSKPAUTOSTOP(High,Low,Close)+ EncodeColor(colorRed)+ "    Risk of " + EncodeColor(colorWhite)+risk_long
//+ EncodeColor(colorYellow)+ "\n Long Target of : "+Long_tgt1 +"  and second target of :" + Long_tgt2   
+ "\n"
//+ EncodeColor(colorGreen)+ "\n Pivot  Low : "+EncodeColor(colorWhite)+PL+EncodeColor(colorGreen)+"  Place SHORT Trigger at :"+ EncodeColor(colorWhite)+plfilter + EncodeColor(colorGreen)+"   SL of :"+ EncodeColor(colorWhite)+E_TSKPAUTOSTOP(High,Low,Close)+ EncodeColor(colorGreen)+"    Risk of " + EncodeColor(colorWhite)+risk_short
//+ EncodeColor(colorYellow)+ "\n Short Target of : "+short_tgt1 +"  and second target of :" + short_tgt2   
;

SL = ( HHV( H, 26 ) + LLV( L, 26) )/2;
TL = ( HHV( H, 9 ) + LLV( L, 9 ) )/2;

Color_buy = IIf (Close > sl AND Close > TL, colorBlue, IIf (Close < sl AND Close < TL,colorRed,colorYellow));

Plot(6,"icchi",Color_buy,styleOwnScale| styleArea|
styleNoLabel,-0.5,100);