OPEN-SOURCE SCRIPT
[Sapphire] JetStream (SWMA + Laguerre Filter)
A Dynamic Fusion of Sine Weighted Moving Average and Laguerre Filter
The [Sapphire] JetStream Indicator is a versatile tool that combines the Sine Weighted Moving Average (SWMA) and the Laguerre Filter. This can be used to dynamically visualize price movements overtime.
Core Components:
Sine Weighted Moving Average (SWMA):
Laguerre Filter:
Bar Repainting:
The [Sapphire] JetStream Indicator is a versatile tool that combines the Sine Weighted Moving Average (SWMA) and the Laguerre Filter. This can be used to dynamically visualize price movements overtime.
Core Components:
Sine Weighted Moving Average (SWMA):
- The SWMA applies sine-weighted coefficients to recent price values, producing a responsive moving average that adapts to market conditions.
- The plotted SWMA line changes its color based on directional movement:
- Cyan: Upward trend.
- Gray: Downward trend.
- The sensitivity of the SWMA is controlled via the SWMA Length input, allowing users to fine-tune its responsiveness to price changes.
Laguerre Filter:
- The Laguerre Filter uses recursive smoothing techniques to extract meaningful trends while minimizing lag.
- The filter line dynamically changes color:
- Blue: Upward momentum.
- White: Downward momentum.
- The Laguerre Alpha parameter adjusts the filter's smoothing intensity, giving users control over its reaction to price fluctuations.
Bar Repainting:
- The bar coloring feature adds another layer of visualization by dynamically altering bar colors based on the interaction between the SWMA and Laguerre Filter:
- White: Both SWMA and Laguerre Filter are trending upward.
- Teal: Both SWMA and Laguerre Filter are trending downward.
- Cyan: Divergence between the two (one trending upward, the other downward).
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.