OPEN-SOURCE SCRIPT
[blackcat] L2 Ehlers Super Smoother (2 poles)
Level:2
Background
The second-order super smoother low-pass butterworth filter (2 pole) is a classic J.F Ehlers indicator.
Function
I have found many places where the algorithms are not uniform and some are even wrong. So, I did some research and wrote a low pass filter that I think is correctly defined. This indicator is often used as one of the basic elements of other trading systems.
When you are using it, you need to enter the Period setting period.
The key difference from other places is that, they use :
Filt2 := coef1*(Price+Price[1])/2 + coef2*nz(Filt2[1]) + coef3*nz(Filt2[2])
which introduces extra lag
My version keep the original meaning from Ehlers and use:
Filt2 := coef1*Price + coef2*nz(Filt2[1]) + coef3*nz(Filt2[2])
A little improvement on lag issue.
Remarks
Free and Open Source
Background
The second-order super smoother low-pass butterworth filter (2 pole) is a classic J.F Ehlers indicator.
Function
I have found many places where the algorithms are not uniform and some are even wrong. So, I did some research and wrote a low pass filter that I think is correctly defined. This indicator is often used as one of the basic elements of other trading systems.
When you are using it, you need to enter the Period setting period.
The key difference from other places is that, they use :
Filt2 := coef1*(Price+Price[1])/2 + coef2*nz(Filt2[1]) + coef3*nz(Filt2[2])
which introduces extra lag
My version keep the original meaning from Ehlers and use:
Filt2 := coef1*Price + coef2*nz(Filt2[1]) + coef3*nz(Filt2[2])
A little improvement on lag issue.
Remarks
Free and Open Source
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Penafian
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