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Ehlers Instantaneous Trendline V2 [CC]

The Instantaneous Trendline was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pg 24) and this is an updated version of his original Instantaneous Trendline that works much better in my opinion. Buy when the indicator line turns green and sell when it turns red.

Let me know what other scripts you would like to see me publish or if you want something custom done!
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Comments

Does it repaints?
+1 Reply
cheatcountry DuneStrider
@DuneStrider, It doesn't repaint by default but you can turn repainting on in the options if you want
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I'm trying to understand the repaint option on your indicators. On a lot of your indicators you have the option to not allow repainting and I see you are by default taking the data from the previously closed candle so that the current bars value doesn't fluctuate while the candle is open. It seems you have a stricter definition of repainting. My understanding of repainting is that the previously closed candles (say close1) value is changed after it has been closed (or becomes close2). It seems in your indicators even if you "Allow repainting", it doesn't repaint in the typical sense that falsely appears to predict the future by modifying past data, it seems it just means something like the "current bar's data is subject to change until the bar closes, but once it closes it will not change ever”, so then it would still be safe to use your “Allow repainting option”. Is this a correct understanding?
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cheatcountry stevenwalter0
@stevenwalter0, Repainting simply means that it uses the most current data even if the current bar is still open. The previous values don't actually get changed but if you use the latest bar which does keep changing until it is closed then that does throw people off with incorrect info. The best way to solve this problem is only use the previous bar which is already closed so the values won't change. I hope that helps explain everything. Feel free to pm me for more questions
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Thanks @cheatcountry for your Ehlers series. What is your opinion or preference between this and the Pole Butterworth ?
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@MasBart, With the default values I prefer this indicator personally
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MasBart cheatcountry
@cheatcountry, thanks again. Cheers
Reply
@MasBart, yw
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