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!
@DuneStrider, It doesn't repaint by default but you can turn repainting on in the options if you want
SteveP96
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The codes in V1 and V2 are quite different and the difference in speed of the 2 versions is significant as well. My guess is that the V2 is the more closer to Dr. Ehlers' original code? Anyhow, much thanks!
cheatcountry
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@TropicalSteve1996, no they are both from ehlers code but v2 is his redesign for the v1 idea that was published in a later book
ersnylm
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Hi @cheatcountry I am using Ehlers instantaneous indicator for support and resistance. I'm doing scalp trading. (using 5 minutes and 15 minutes chart.) Which and what values would you recommend between version 1 and version 2? Which line should I use? Waiting for your suggestions Also sorry my english is not very good
cheatcountry
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@ersnylm, So the colored line is the one you want to track so if it is green then it is buy and red it is sell. Version 2 seems to give less false signals so I would recommend that one