OPEN-SOURCE SCRIPT
Ehler's Reflex Indicator ( + MTF & Adaptive )
Implementation of Ehler's Reflex Indicator from TASC Feb 2020.
Optional MTF and fixed/adaptive length based on one of Ehler's cycle measurements.
Optional settings for his recommended 2 bar averaging, can apply the averaging to either/and source ie (close + close[1]) / 2, the output of the smoothing filter portion of the calculation or the final indicator output.
Green/Red : Reflex/Cycle
Aqua/Purple : Trend
Optional MTF and fixed/adaptive length based on one of Ehler's cycle measurements.
Optional settings for his recommended 2 bar averaging, can apply the averaging to either/and source ie (close + close[1]) / 2, the output of the smoothing filter portion of the calculation or the final indicator output.
Green/Red : Reflex/Cycle
Aqua/Purple : Trend
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.