LazyBear

Indicators: Hurst Bands and Hurst Oscillator

These 2 indicators are derivative work from Jim Hurst's book - "The Magic of Stock Transaction Timing".

The bands are % bands around a median that gets calculated according to Hurst's formula. The outer bands (called ExtremeBands) signify extreme overbought/oversold conditions. Inner bands signify potential pullback points. As you can see, they also act as dynamic S/R levels.

The oscillator bands match the bands overlaid on price, so you will get an excellent indication of where the price is gonna do by using the oscillator along with the bands. Note that Hurst Oscillator can be used separately too, there is no technical dependency on Hurst Bands.

More info on Hurst Method:
http://www.readtheticker.com/Pages/IndLibrary.aspx?65tf=108_jim-hurst-method
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//
// @author LazyBear
//
// If you use this code in its original/modified form, do drop me a note. 
//
study("Hurst Bands [LazyBear]", shorttitle="H%Bands_LB", overlay=true)
price = hl2
length = input(10, title="Displacement length")
InnerValue = input(1.6, title="Innerbands %")
OuterValue = input(2.6, title="Outerbands %")
ExtremeValue = input(4.2, title="Extremebands %")
showExtremeBands = input(false, type=bool, title="Display Extreme Bands?")
showClosingPriceLine = input(false, type=bool, title="Plot Close price?")
smooth = input(1, title="EMA Length for Close")

displacement = (length / 2) + 1
dPrice = price[displacement]

CMA = not na(dPrice) ?  sma(dPrice, abs(length)) : nz(CMA[1]) + (nz(CMA[1]) - nz(CMA[2]))
 
CenteredMA=plot(not na(dPrice) ? CMA : na, color=blue , linewidth=2)
CenterLine=plot(not na(price) ? CMA : na, linewidth=2, color=aqua)

ExtremeBand = CMA * ExtremeValue / 100
OuterBand   = CMA * OuterValue / 100
InnerBand   = CMA * InnerValue / 100

UpperExtremeBand=plot(showExtremeBands and (not na(price)) ? CMA + ExtremeBand : na)
LowerExtremeBand=plot(showExtremeBands and (not na(price)) ? CMA - ExtremeBand : na)
UpperOuterBand=  plot(not na(price) ? CMA + OuterBand : na)
LowerOuterBand=  plot(not na(price) ? CMA - OuterBand : na)
UpperInnerBand=  plot(not na(price) ? CMA + InnerBand : na)
LowerInnerBand=  plot(not na(price) ? CMA - InnerBand : na)

fill(UpperOuterBand, UpperInnerBand, color=red, transp=85)
fill(LowerInnerBand, LowerOuterBand, color=green, transp=85)

FlowValue = close > close[1] ? high : close < close[1] ? low : hl2
FlowPrice = plot(showClosingPriceLine ? sma(FlowValue, smooth) : na, linewidth=1)
Hi, sir, just found your post and sharing wonderful, but i'm currently using Multicharts, do you have the code which can be read in Multicharts?
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sir above ami broker code error com , can u post or send mail me amibroker afl for hurst oscillator
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Im not able to show the HO oscillator at all just the bands, is the indicator still valide?
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Works well with 30 60min and 1 hour chart.. fails for 5m and dialy chart
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Can you help in thinkscript translation for the following? CMA = not na(dPrice) ? sma(dPrice, abs(length)) : nz(CMA) + (nz(CMA) - nz(CMA)) Thanks.
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glaz syracusepro
its a transaltion from thinkscript to pinescript but dosnt work couse it cant look in the future like the original code http://indexswingtrader.blogspot.gr/2012/07/hurst-channels-and-oscillator.html
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Thanks.
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Got it...Thanks So much!
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Do you have script for hurst oscillator? The above script only plots the bands....Thank you
+1 Reply
Bands appear, but not the oscillator. The links from your site for the Bands and Oscillator point to the same place. Is there something missing hear? Thanks..
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