OPEN-SOURCE SCRIPT

Ehlers Simple Window Indicator [CC]

The Simple Window Indicator was created by John Ehlers (Stocks and Commodities Sep 2021) and this is the last of the 4 new indicators that he published in the latest issue of Stocks & Commodities. Since these are all part of a series, the idea behind each indicator is the exact same. The only difference is of course the calculation for each indicator. This script is different mostly because it is extremely noisy in comparison so I had to smooth it twice to provide clear buy and sell signals. Window functions are used in digital signal processing to filter out noise and the end result is an oscillator that centers around the 0 line. The easy way to understand these indicators that I will be publishing and those are that when they are above 0, it usually means an uptrend and below 0 then a downtrend. For more immediate signals, I have included both normal and strong buy and sell signals so darker colors for strong signals and lighter colors for normal signals. Buy when the line turns green and sell when it turns red.

Let me know if there are any other indicators you would like me to publish!

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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