LazyBear

Ehlers Instantaneous Trend [LazyBear]

One more to add to the Ehlers collection.

Ehlers Instantaneous Trendline, by John Ehlers, identifies the market trend by doing removing cycle component. I think, this simplicity is what makes it attractive :) To understand Ehlers's thought process behind this, refer to the PDF linked below.

There are atleast 6 variations of this ITrend. This version is from his early presentations.

Is this better than a simple HMA? May be, May be not. I will leave it to you to decide :)

I have added options to show this as a ribbon, and to color bars based on ITrend. Check out the options page.

More info:
- ITrend: http://www.mesasoftware.com/seminars/AfTAMay2003.pdf

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970

Remove from Favorite Scripts Add to Favorite Scripts
//
// @author LazyBear 
// 
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
study(title="Ehlers Instantaneous Trend [LazyBear]", shorttitle="EIT_LB", overlay=true, precision=3)
src=input(hl2, title="Source")
a= input(0.07, title="Alpha", step=0.01) 
fr=input(false, title="Fill Trend Region")
ebc=input(false, title="Enable barcolors")
hr=input(false, title="Hide Ribbon")
it=(a-((a*a)/4.0))*src+0.5*a*a*src[1]-(a-0.75*a*a)*src[2]+2*(1-a )*nz(it[1], ((src+2*src[1]+src[2])/4.0))-(1-a )*(1-a )*nz(it[2], ((src+2*src[1]+src[2])/4.0))
lag=2.0*it-nz(it[2])
dl=plot(fr and (not hr)?(it>lag?lag:it):na, color=gray, style=circles, linewidth=0, title="Dummy")
itl=plot(hr?na:it, color=fr?gray:red, linewidth=1, title="Trend")
ll=plot(hr?na:lag, color=fr?gray:blue, linewidth=1, title="Trigger")
fill(dl, ll, green, title="UpTrend", transp=70)
fill(dl, itl, red, title="DownTrend", transp=70)
bc=not ebc?na:(it>lag?red:lime)
barcolor(bc)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

moneymaking
2 years ago
Thank you for sharing lazy bear :)
Reply
LazyBear PRO moneymaking
2 years ago
yw :)
+1 Reply
ChartArt
2 years ago
Fantastic. Thank you for coding all these Ehlers indicators!
+1 Reply
LazyBear PRO ChartArt
2 years ago
yw :)
Reply
fabfoot
2 years ago
I am new to following you. I would like the ribbon version but can't seem to find the options page. How do I do this?
+1 Reply
LazyBear PRO fabfoot
2 years ago
Click on the gear icon (tooltip shows "Format") next to the indicator name to open the options page.
+1 Reply
fabfoot LazyBear
2 years ago
Thanks
Please add a comment… Positive feedback and constructive criticism are important to authors and the community.
+1 Reply
Crit_Nasty
2 years ago
For some reason when I add the indicator to the chart, the EMAs are not filled with the red and green trend indi colors...
+1 Reply
Crit_Nasty Crit_Nasty
2 years ago
NVM. I figures out how to change it's paramaters. Thank you for this wonderful indi!
Reply
LazyBear PRO Crit_Nasty
2 years ago
yw :)
Reply
sjcwealth Crit_Nasty
4 months ago
How do you get them filled in on the chart,please?
Reply
MONEYMENOW PRO
6 months ago
SECOND BEST .. After the RSI bands.. this is the one...great work..
Reply
sjcwealth
4 months ago
How do you get the lines filled in red or green color?
+1 Reply
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