OPEN-SOURCE SCRIPT
TS Range Filter - TS Hull Suite
The TS Range Filter - TS Hull Suite is a versatile indicator designed to assist traders in identifying trend direction. This indicator combines two powerful tools, the Range Filter and the Hull Suite, to provide a comprehensive view of market conditions.
Key Features:
Range Filter:
Range Filter is a dynamic trend-following component that smoothens price action to filter out market noise.
It helps in identifying the underlying trend by adjusting to price volatility, ensuring accurate signal generation.
The indicator calculates an upper and lower band around the filtered price, offering a visual representation of the price's directional bias.
Hull Suite:
The Hull Suite includes multiple variations of the Hull Moving Average (HMA, EHMA, THMA), which are known for their ability to reduce lag while smoothing price data.
Traders can select their preferred Hull variation and customize the length and smoothing factors for optimal signal accuracy.
The Hull Suite signals are derived from the direction and changes in the moving average, offering early insights into potential trend reversals.
Combined Output:
The indicator is plotted as a Trend Probability Indicator style (TPI). It is calculated as an average of the Range Filter and Hull Suite signals.
The TPI is plotted on a scale where positive values indicate bullish conditions, negative values indicate bearish conditions, and a neutral line marks the threshold between these states.
The signal line is color-coded: Green for bullish signals, Red for bearish signals, and Gray for neutral.
This indicator is suitable for traders looking for a robust and adaptive tool to help identify trend changes and manage positions effectively. Whether used as a standalone tool or in conjunction with other strategies, the TS Range Filter - TS Hull Suite offers valuable insights to enhance your trading decisions.
Key Features:
Range Filter:
Range Filter is a dynamic trend-following component that smoothens price action to filter out market noise.
It helps in identifying the underlying trend by adjusting to price volatility, ensuring accurate signal generation.
The indicator calculates an upper and lower band around the filtered price, offering a visual representation of the price's directional bias.
Hull Suite:
The Hull Suite includes multiple variations of the Hull Moving Average (HMA, EHMA, THMA), which are known for their ability to reduce lag while smoothing price data.
Traders can select their preferred Hull variation and customize the length and smoothing factors for optimal signal accuracy.
The Hull Suite signals are derived from the direction and changes in the moving average, offering early insights into potential trend reversals.
Combined Output:
The indicator is plotted as a Trend Probability Indicator style (TPI). It is calculated as an average of the Range Filter and Hull Suite signals.
The TPI is plotted on a scale where positive values indicate bullish conditions, negative values indicate bearish conditions, and a neutral line marks the threshold between these states.
The signal line is color-coded: Green for bullish signals, Red for bearish signals, and Gray for neutral.
This indicator is suitable for traders looking for a robust and adaptive tool to help identify trend changes and manage positions effectively. Whether used as a standalone tool or in conjunction with other strategies, the TS Range Filter - TS Hull Suite offers valuable insights to enhance your trading decisions.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.