This filter is a mathematical model the can remove cyclical components from the price signal to get the trend components.
- "Lambda" is the smoothing factor and can have a value between 1 and infinity.
- "Length" is the number of previous prices that are included in the filter.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.