Bored of Ehlers yet? :) I still have plenty of Ehlers in my collection, was thinking of publishing one of his Fishers or Adaptive RVI next, but @ChartArt requested Smoothed Adaptive Momentum (SAM), so here we go...
This is my 200th script (not including the variations and other custom scripts I shared over PM). My complete list of indicators here - bit.ly/1LQaPK8.
Now, about the indicator :)
This smoothed adaptive momentum is straightforward to use (per Ehlers original rules). If it crosses above zero buy the next open, if it crosses below zero sell the next open. Of course, I strongly suggest filtering the signals.
Finally, here's an Ehlers-only chart to help determine where BTC is heading :P
As always thank you very much for your relentless contributions to Tradingview! I signed up here last year, because I was doing my first baby steps in trading and found on Youtube an interesting video about the 'WaveTrend Oscillator' and then a quick Google search brought me here to your well known WT Tradingview script (tradingview.com/script/2KE8wTuF-Indicator-WaveTrend-Oscillator-WT/) which now has more than 1500 user favorites. So this is where it all began for me here, as a little anecdote to your 200th published script :)
This indicator, the Ehlers Smoothed Adaptive Momentum, gives a good signal of the dominant (mega)trend of the price. Below is a weekly Bitcoin chart as example, which clearly shows where the overall Bitcoin downtrend began (in July 2014 when GHash.IO made negative newspaper headlines around the world with the 51% mining pool problem, which let well known Bitcoin developer Peter Todd to sell 50% of all of his Bitcoins that month (reddit.com/r/Bitcoin/comments/281ftd/why_i_just_sold_50_of_my_bitcoins_ghashio/). Yes, that is the month where this Ehlers price momentum indicator also starts to "turn red" signaling a downtrend when I posted one of my first Tradingview charts (tradingview.com/chart/BTCUSD/wRFOPTbL-Bitcoin-is-facing-a-larger-correction/) sadly without having this indicator - which would have kept me in a very profitable bearish mood all these months since then.
LazyBear
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Thanks ChartArt. Glad to hear my indicator made you sign up here :)
SPYderCrusher
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You show up for the fine charting platform, you stay for the LazyBear posts :D
LazyBear
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Thanks Spyder :)
Agostini
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Thanks again for all the effort in making such a great indicator. Easily one of the best I have come across in over 3 years. Can anyone please help me convert line115 into a buy sell signal? Unless it's another line of code? Thanks again
This indicator, the Ehlers Smoothed Adaptive Momentum, gives a good signal of the dominant (mega)trend of the price. Below is a weekly Bitcoin chart as example, which clearly shows where the overall Bitcoin downtrend began (in July 2014 when GHash.IO made negative newspaper headlines around the world with the 51% mining pool problem, which let well known Bitcoin developer Peter Todd to sell 50% of all of his Bitcoins that month (reddit.com/r/Bitcoin/comments/281ftd/why_i_just_sold_50_of_my_bitcoins_ghashio/). Yes, that is the month where this Ehlers price momentum indicator also starts to "turn red" signaling a downtrend when I posted one of my first Tradingview charts (tradingview.com/chart/BTCUSD/wRFOPTbL-Bitcoin-is-facing-a-larger-correction/) sadly without having this indicator - which would have kept me in a very profitable bearish mood all these months since then.