Ehlers Market Mode Indicator [CC] by cheatcountry

oscillator centeredoscillator trendanalysis ehlers ehler johnehlers john market mode choppymarket trendmarket choppy

The Market Mode Indicator was created by John Ehlers (Rocket Science For Traders pgs 114-117) and this is a handy tool that will tell you if the market is currently in a cycle or a trend. When the current market is in a cycle or choppy state then the indicator will read 0 and when it is in a trend then it will read 1. He uses some advanced digital signal processing to figure out the current trend and for how long it has been trending. I have included buy and sell signals using the trendline and so buy when the line turns green and sell when it turns red. Let me know if this indicator is useful for you.

Let me know if there are any other indicators you would like to see me publish!

I created the largest stock indicator library:
github.com/ooples/

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Open-source script

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.

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