LazyBear

Ehlers Simple Cycle Indicator [LazyBear]

One of the early cycle indicators from John Ehlers .

Ehlers suggests using this with ITrend (see linked PDF below). Osc/signal crosses identify entry/exit points.

Options page has the usual set of configurable params.

More info:
- Simple Cycle Indicator: http://www.mesasoftware.com/seminars/AfTAMay2003.pdf

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970

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//
// @author LazyBear 
// 
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
study("Ehlers  Simple Cycle Indicator [LazyBear]", shorttitle="ESCI_LB")
src=input(hl2, title="Source") 
alpha=input(.07, title="Alpha")
Smooth = (src + 2*src[1] + 2*src[2] + src[3])/6.0
cycle_ = (1 - .5*alpha)*(1 - .5*alpha)*(Smooth - 2*Smooth[1] + Smooth[2])+ 2*(1 - alpha)*cycle[1] - (1 - alpha)*(1 - alpha)*cycle[2]
cycle = iff(n<7, (src - 2*src[1] + src[2]) / 4.0, cycle_)
t=cycle[1]
plot(0, title="ZeroLine", color=gray) 
fr=input(true, title="Fill Osc/Trigger region")
duml=plot(fr?(cycle>t?cycle:t):na, style=circles, linewidth=0, color=gray, title="Dummy")
cmil=plot(cycle, title="SimpleCycleIndicator",color=blue)
tl=plot(t, title="Trigger",color=green)
fill(cmil, duml, color=red, transp=50, title="NegativeFill")
fill(tl, duml, color=lime, transp=50, title="PositiveFill")
ebc=input(false, title="Color bars?")
bc=ebc?(cycle>0? (cycle>t?lime:(cycle==t?gray:green)): (cycle<t?red:orange)):na
barcolor(bc)
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