PINE LIBRARY

Expansion Contraction Library

Library "ExpansionContraction"
Library for Expansion Contraction Indicator, a zero-lag dual perspective indicator created by Brian Latta based on Jake Bernstein’s principles of Moving Average Channel system.

calc(shortLookback, longLookback)
Calculates Expansion Contraction values.
Parameters:
shortLookback: Integer for the short lookback calculation, defaults to 8
longLookback: Integer for the long lookback calculation, defaults to 32
return Returns array of Expansion Contraction values

stdevCalc(positiveShort, negativeShort, positiveLong, negativeLong, stdevLookback)
Calculates standard deviation lines based on Expansion Contraction Long and Short values.
Parameters:
positiveShort: Float for the positive short XC value from calculation
negativeShort: Float for the negative short XC value from calculation
positiveLong: Float for the positive long XC value from calculation
negativeLong: Float for the negative long XC value from calculation
stdevLookback: Integer for the standard deviation lookback, defaults to 500
return Returns array of standard deviation values

trend(positiveShort, negativeShort, positiveLong, negativeLong)
Determines if trend is strong or weak based on Expansion Contraction values.
Parameters:
positiveShort: Float for the positive short XC value from calculation
negativeShort: Float for the negative short XC value from calculation
positiveLong: Float for the positive long XC value from calculation
negativeLong: Float for the negative long XC value from calculation
return Returns array of boolean values indicating strength or weakness of trend