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Old 20-03-2018, 21:37
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Default Two Pole Smoothed Ehlers Oscillator – indicator for MetaTrader 4

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Original researches by John F. Ehlers, described in "Cybernetic Analysis for Stocks and Futures" (2004) ISBN: 0-471-46307-8

Two Pole Super Smoother Indicator based on Ehlers’ book, and coded by Witold Wozniak (www.mqlsoft.com)

Additional researches and codes by Julien Loutre (zenhop).

Description:

The Two Pole Super Smoother Indicator is a great way to evaluate the trend, and a good alternative the a regular moving average. But it can hardly be used tofind the turning points of the major cycles.

So I’ve transformed the Super Smoother Indicator as a smoothed oscillator.

The oscillator accurately find most of the cycle’s turning points, while the additional smoothing removed the residual noise.

In order to remove the residual noise from the oscillator, I used Ehlers’ Instantaneous trendline filter, because this filtershows a great noise reduction capacity while keeping the additional lag really low.

Because all the Maths have been modified in order to be based on the Open prices, the indicator won’t retrace.

Lag:

Please note that the original Two pole Super Smoother indicator presents a small lag proportional to it’s Cutoff Period. Because the version on this page has been modified to be based on the Open price (in order to avoid retracements), one bar of lag is added.

Finally, the Instantaneous trendline filter is adding a little lag too, which should not be of more than 2 bars.

As a result, you should not use this indicator in order to catch cycles with a period of less than 10 bars.

If you want to catch 5 bars cycles on H1 for example, you can use this indicator on the M1 or M5 timeframe, using a large cutOff period. The additional data available on small timeframes allows you to trade short cycles.

How to install Two Pole Smoothed Ehlers Oscillator – indicator for MetaTrader 4.mq4?


    Download Two Pole Smoothed Ehlers Oscillator – indicator for MetaTrader 4.mq4
    Copy Two Pole Smoothed Ehlers Oscillator – indicator for MetaTrader 4.mq4 to your Metatrader Directory / experts / indicators /
    Start or restart your Metatrader 4 Client
    Select Chart and Timeframe where you want to test your MT4 indicators
    Search "Custom Indicators" in your Navigator mostly left in your Metatrader 4 Client
    Right click on Two Pole Smoothed Ehlers Oscillator – indicator for MetaTrader 4.mq4
    Attach to a chart
    Modify settings or press ok
    Indicator Two Pole Smoothed Ehlers Oscillator – indicator for MetaTrader 4.mq4 is available on your Chart

How to remove Two Pole Smoothed Ehlers Oscillator – indicator for MetaTrader 4.mq4 from your Metatrader Chart?


    Select the Chart where is the Indicator running in your Metatrader 4 Client
    Right click into the Chart
    "Indicators list"
    Select the Indicator and delete

Click here below to download:

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