Roofing filters, first discussed by Mr.John Ehlers, act as a passband, filtering out unwanted noise from market data and accentuating turning points.
I have included 2 indicators with filters enabled. Both support double smoothing via options page. All the parameters are configurable.
Info on Roofing Filter and Ehlers Super Smoother: ---------------------------------------------------- The Ehlers' Roofing Filter is an expansion on Ehlers Super Smoother Filter, both being smoothing techniques based on analog filters. This filter aims at reducing noise in price data.
In Super Smoother Filter, regardless of the time frame used, all waves having cycles of less than 10 bars are considered noise (customizable via options page). The Roofing Filter uses this principle, however, it also creates a so-called "roof" by eliminating wave components having cycles greater than 48 bars which are perceived as "spectral dilation". Thus, the filter only passes those spectral components whose periods are between 10 and 48 bars. This technique noticeably reduces indicator lag and also helps assess turning points more accurately.
or am i missing something? I am a very much amateur coder
stevenwalter0
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@TradeShotsPro, Would you mind sharing this script in v4? I wasn't able to get it to work.
ricjason
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anyone able to convert this to version 4 or 5?
IceRaider59
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There is no RSI...only Stoch.
altar.azeem
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RSI WITH Roofing Filter to be provide please
Clarky663
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Hi LB really appreciate the free scripts, I can’t seem to be able to find the ehlers rsi. I’ve followed the link and don’t seem to be able to copy the indicator using the instructions on the linked page. Cheers.