OPEN-SOURCE SCRIPT

Jurik Filter [Loxx]

Updated
Jurik Filter [Loxx] is a Jurik-filtered moving average that acts as both a baseline and a support and resistance indicator

What is Jurik Volty used in the Juirk Filter?
One of the lesser known qualities of Juirk smoothing is that the Jurik smoothing process is adaptive. "Jurik Volty" (a sort of market volatility ) is what makes Jurik smoothing adaptive. The Jurik Volty calculation can be used as both a standalone indicator and to smooth other indicators that you wish to make adaptive.

What is the Jurik Moving Average?
Have you noticed how moving averages add some lag (delay) to your signals? ... especially when price gaps up or down in a big move, and you are waiting for your moving average to catch up? Wait no more! JMA eliminates this problem forever and gives you the best of both worlds: low lag and smooth lines.

Ideally, you would like a filtered signal to be both smooth and lag-free. Lag causes delays in your trades, and increasing lag in your indicators typically result in lower profits. In other words, late comers get what's left on the table after the feast has already begun.

Included
-Advanced filtering system using multiples of standard deviation, this filter acts paint dynamic support and resistance levels on the chart based on volatility
-Double Jurik filtering
-Toggle bar color on/off
Release Notes
Updated formula
doublejurikJMAjurikjurikfilterstandarddevationStandard Deviationsupportandresitancevolty

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 publication is governed by House rules. You can favorite it to use it on a chart.

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