In this study, a single pole low pass filter is used. The low pass filter's cutoff period is determined either by a fixed user input, or by using an Instantaneous Frequency Measurement (IFM) algorithm.
Most radar warning, electronic countermeasures, and electronic intelligence systems employ IFM to identify threats, map the electronic battlefield, and implement deceptive countermeasures.
The IFM technique used for this study was devised by John . It calculates In Phase and Quadrature ( IQ ) components using the Hilbert Transform and uses them to determine the dominant price cycle.
To generate the channel, the same filter approach is applied to true range then added to and subtracted from the price filter.
Custom bar colors are included for simple wave and trend indication.
-> Stability Fix: Added correction for NaN values to stabilize initial states.
-> Reorganized the script structure.
В истинном духе TradingView автор этого скрипта опубликовал его с открытым исходным кодом, чтобы трейдеры могли понять, как он работает, и проверить на практике. Вы можете воспользоваться им бесплатно, но повторное использование этого кода в публикации регулируется Правилами поведения. Вы можете добавить этот скрипт в избранное и использовать его на графике.
I just had the highest win percentage trading this. I used a completely different input for the low pass filter then what most people here are using though.
Problem is it still generates false signals. They are not MASSIVE losses but, I shoot for absolute perfection while trading this.
Also, the bar color signals aren't designed for wave prediction, but rather to reflect the current state of price in relation to the signals. The false signals you're encountering depend on how you're choosing to analyze it.
You could always try using confluence with other fairly reliable indicators to enhance your performance.
I understand any trading methodology will have flaws. Simply using your indicator and the one I have created for myself has generated me VERY SIGNIFICANT wins.
Thank you for that!
I have conditions that are met that help me increase my win percentage even more than usual however it means I take less trades.
I was thinking would maybe utilizing some sort of hybrid convolution filter derived from the low pass channel base line do the trick or maybe even an amplitude/acceleration readout when price is either on the upside or downside? I have went through dozens of indicators and very few have given me good consistent signals.
What concept or theory would most likely compliment your wonderful indicator?
I have noted that both work very well.