OPEN-SOURCE SCRIPT
Enhanced Instantaneous Cycle Period - Dr. John Ehlers
This is my first public release of detector code entitled "Enhanced Instantaneous Cycle Period" for PSv4.0 I built many months ago. Be forewarned, this is not an indicator, this is a detector to be used by ADVANCED developers to build futuristic indicators in Pine. The origins of this script come from a document by Dr. John Ehlers entitled "SIGNAL ANALYSIS CONCEPTS". You may find this using the NSA's reverse search engine "goggles", as I call it. John Ehlers' MESA used this measurement to establish the data window for analysis for MESA Cycle computations. So... does any developer wish to emulate MESA Cycle now??
I decided to take instantaneous cycle period to another level of novel attainability in this public release of source code with the following methods, if you are curious how I ENHANCED it. Firstly I reduced the delay of accurate measurement from bar_index==0 by quite a few bars closer to IPO. Secondarily, I provided a limit of 6 for a minimum instantaneous cycle period. At bar_index==0, it would provide a period of 0 wrecking many algorithms from the start. I also increased the instantaneous cycle period's maximum value to 80 from 50, providing a window of 6-80 for the instantaneous cycle period value window limits. Thirdly, I replaced the internal EMA with another algorithm. It reduces the lag while extracting a floating point number, for algorithms that will accept that, compared to a sluggish ordinary EMA return. You will see the excessive EMA delay with adding plot(ema(ICP,7)) as it was originally designed. Lastly it's in one simple function for reusability in a nice little package comprising of less than 40 lines of code. I hope I explained that adequately enough and gave you the reader a glimpse of the "Power of Pine" combined with ingenuity.
Be forewarned again, that most of Pine's built-in functions will not accept a floating-point number or dynamic integers for the "length" of it's calculation. You will have to emulate the built-in functions by creating Pine based custom functions, and I assure you, this is very possible in many cases, but not all without array support. You may use int(ICP) to extract an integer from the smoothICP return variable, which may be favorable compared to the choppiness/ringing if ICP alone.
This is commonly what my dense intricate code looks like behind the veil. If you are wondering why there is barely any notation, that's because the notation is in the variable naming and this is intended primarily for ADVANCED developers too. It does contain lines of code that explore techniques in Pine that may be applicable in other Pine projects for those learning or wishing to excel with Pine.
Showcased in the chart below is my free to use "Enhanced Schaff Trend Cycle Indicator", having a common appeal to TV users frequently. If you do have any questions or comments regarding this indicator, I will consider your inquiries, thoughts, and ideas presented below in the comments section, when time provides it. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
NOTICE: Copy pasting bandits who may be having nefarious thoughts, DO NOT attempt this, because this may violate Tradingview's terms, conditions and/or house rules. "WE" are always watching the TV community vigilantly for mischievous behaviors and actions that exploit well intended authors for the purpose of increasing brownie points in reputation scores. Hiding behind a "protected" wall may not protect you from investigation and account penalization by TV staff. Be respectful, and don't just throw an ma() in there branding it as "your" gizmo. Fair enough? Alrighty then... I firmly believe in "innovating" future state-of-the-art indicators, and please contact me if you wish to do so.
I decided to take instantaneous cycle period to another level of novel attainability in this public release of source code with the following methods, if you are curious how I ENHANCED it. Firstly I reduced the delay of accurate measurement from bar_index==0 by quite a few bars closer to IPO. Secondarily, I provided a limit of 6 for a minimum instantaneous cycle period. At bar_index==0, it would provide a period of 0 wrecking many algorithms from the start. I also increased the instantaneous cycle period's maximum value to 80 from 50, providing a window of 6-80 for the instantaneous cycle period value window limits. Thirdly, I replaced the internal EMA with another algorithm. It reduces the lag while extracting a floating point number, for algorithms that will accept that, compared to a sluggish ordinary EMA return. You will see the excessive EMA delay with adding plot(ema(ICP,7)) as it was originally designed. Lastly it's in one simple function for reusability in a nice little package comprising of less than 40 lines of code. I hope I explained that adequately enough and gave you the reader a glimpse of the "Power of Pine" combined with ingenuity.
Be forewarned again, that most of Pine's built-in functions will not accept a floating-point number or dynamic integers for the "length" of it's calculation. You will have to emulate the built-in functions by creating Pine based custom functions, and I assure you, this is very possible in many cases, but not all without array support. You may use int(ICP) to extract an integer from the smoothICP return variable, which may be favorable compared to the choppiness/ringing if ICP alone.
This is commonly what my dense intricate code looks like behind the veil. If you are wondering why there is barely any notation, that's because the notation is in the variable naming and this is intended primarily for ADVANCED developers too. It does contain lines of code that explore techniques in Pine that may be applicable in other Pine projects for those learning or wishing to excel with Pine.
Showcased in the chart below is my free to use "Enhanced Schaff Trend Cycle Indicator", having a common appeal to TV users frequently. If you do have any questions or comments regarding this indicator, I will consider your inquiries, thoughts, and ideas presented below in the comments section, when time provides it. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
NOTICE: Copy pasting bandits who may be having nefarious thoughts, DO NOT attempt this, because this may violate Tradingview's terms, conditions and/or house rules. "WE" are always watching the TV community vigilantly for mischievous behaviors and actions that exploit well intended authors for the purpose of increasing brownie points in reputation scores. Hiding behind a "protected" wall may not protect you from investigation and account penalization by TV staff. Be respectful, and don't just throw an ma() in there branding it as "your" gizmo. Fair enough? Alrighty then... I firmly believe in "innovating" future state-of-the-art indicators, and please contact me if you wish to do so.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.