The Cyber Cycle Indicator, developed by John Ehlers , is used for isolating the cycle component of the market from its trend counterpart. Unlike other oscillators like RSI , Cyber Cycle Indicator's wave has a variable amplitude.
Use the osc/signal crossover for entry/exit points. You can enable highlighting the crossovers by using region fills (via options page). I have also added an option to color the bars based on this.
Actually I have lot of Ehlers indicators in my to-publish backlog, will try to prioritize them over the others in the pipeline. Lets have an Ehlers week for indicators :)
More info:
Cybernetic Analysis for Stocks and Futures
List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970
Use the osc/signal crossover for entry/exit points. You can enable highlighting the crossovers by using region fills (via options page). I have also added an option to color the bars based on this.
Actually I have lot of Ehlers indicators in my to-publish backlog, will try to prioritize them over the others in the pipeline. Lets have an Ehlers week for indicators :)
More info:
Cybernetic Analysis for Stocks and Futures
List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970
List of my indicators at Appstore: http://blog.tradingview.com/?p=970
//
// @author LazyBear
//
// List of my public indicators: http://bit.ly/1LQaPK8
// List of my app-store indicators: http://blog.tradingview.com/?p=970
//
study("Ehlers Cyber Cycle Indicator [LazyBear]", shorttitle="ECCI_LB", overlay=false, precision=3)
src=input(hl2, title="Source")
alpha=input(.07, title="Alpha")
smooth=(src+2*src[1]+2*src[2]+src[3])/6
cycle_=(1-.5*alpha)*(1-.5*alpha)*(smooth-2*smooth[1]+smooth[2])+2*(1-alpha)*nz(cycle_[1])-(1-alpha)*(1-alpha)*nz(cycle_[1])
cycle=(n<7)?(src-2*src[1]+src[2])/4:cycle_
t = cycle[1]
plot(0, title="ZeroLine", color=gray)
fr=input(true, title="Fill Osc/Trigger region")
duml=plot(fr?(cycle>t?cycle:t):na, style=circles, linewidth=0, color=gray, title="Dummy")
cmil=plot(cycle, title="CyberCycle",color=blue)
tl=plot(t, title="Trigger",color=green)
fill(cmil, duml, color=red, transp=50, title="NegativeFill")
fill(tl, duml, color=lime, transp=50, title="PositiveFill")
ebc=input(false, title="Color bars?")
bc=ebc?(cycle>0? (cycle>t?lime:(cycle==t?gray:green)): (cycle<t?red:orange)):na
barcolor(bc)