Averages, and the way they are compared and calculated make up a large amount of the indicators out there, so the fun thing about new averages, is how they open up a whole new group of indicators.
This is . You'll notice it acts a little different than your normal , and it can be traded in different ways. It can be used as a switch, or to view bursts of momentum. Combine with your style and see if you notice anything. It might just be what you were looking for! Stay tuned for more scripts & ideas by following me on TradingView.
Grab the source code here: http://pastebin.com/e7DEYe7y
Installation video by @ChrisMoody here : http://blog.tradingview.com/?p=265
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I'd like as many people as possible to get it :)
This indicator is coded as defined by John Ehlers in his book "Cybernetic Analysis for Stocks and Futures", with minor visualization changes (colors) added by me. Colors can be turned off if desired.
I've also added the ability to smooth the indicator. If smoothing is set any greater than 1 (default), an EMA is applied to the indicator. This introduces some lag, but it may be beneficial for some systems. That is something you will need to test for yourself and your strategy.
You'll notice the Laguerre RSI acts a little different when compared to your normal RSI, and it can be traded in different ways.
You can use it as a switch / filter, to indicate bursts of momentum, the direction of momentum, and more.
Combine this with your own strategies and you may find it useful. It might just be what you were looking for!
Follow me on TradingView, I almost never post anything new ;-)
Trade smart. Don't get caught up looking for the perfect indicator, it doesn't exist.
قام مؤلف هذا النص البرمجي بنشره وجعله مفتوح المصدر، بحيث يمكن للمتداولين فهمه والتحقق منه، وهو الأمر الذي يدخل ضمن قيم TradingView. تحياتنا للمؤلف! يمكنك استخدامه مجانًا، ولكن إعادة استخدام هذا الكود في منشور تحكمه قواعد الموقع. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.
That being said, all indicators are something you will need to spend time with on paper to really understand their nuances. It is almost always beneficial to pair indicators with other non-collinear indicators to get a true reading of the market at any given time.