Expansion Contraction Library by viewer405

Library "ExpansionContraction"
Library for Expansion Contraction Indicator, a zero-lag dual perspective indicator created by Brian Latta based on Jake Bernstein’s principles of Moving Average Channel system.

calc(shortLookback, longLookback)
Calculates Expansion Contraction values.
Parameters:
shortLookback: Integer for the short lookback calculation, defaults to 8
longLookback: Integer for the long lookback calculation, defaults to 32
@return Returns array of Expansion Contraction values

stdevCalc(positiveShort, negativeShort, positiveLong, negativeLong, stdevLookback)
Calculates standard deviation lines based on Expansion Contraction Long and Short values.
Parameters:
positiveShort: Float for the positive short XC value from calculation
negativeShort: Float for the negative short XC value from calculation
positiveLong: Float for the positive long XC value from calculation
negativeLong: Float for the negative long XC value from calculation
stdevLookback: Integer for the standard deviation lookback, defaults to 500
@return Returns array of standard deviation values

trend(positiveShort, negativeShort, positiveLong, negativeLong)
Determines if trend is strong or weak based on Expansion Contraction values.
Parameters:
positiveShort: Float for the positive short XC value from calculation
negativeShort: Float for the negative short XC value from calculation
positiveLong: Float for the positive long XC value from calculation
negativeLong: Float for the negative long XC value from calculation
@return Returns array of boolean values indicating strength or weakness of trend

Pine library

In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House Rules.

Disclaimer

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