OPEN-SOURCE SCRIPT
更新済 Leading T3
Hello Fellas,
Here, I applied a special technique of John F. Ehlers to make lagging indicators leading. The T3 itself is usually not realling the classic lagging indicator, so it is not really needed, but I still publish this indicator to demonstrate this technique of Ehlers applied on a simple indicator.
The indicator does not repaint.
In the following picture you can see a comparison of normal T3 (purple) compared to a 2-bar "leading" T3 (gradient):
https://www.tradingview.com/x/UrFVoBOR/
The range of the gradient is:
Ehlers Special Technique
John Ehlers did develop methods to make lagging indicators leading or predictive. One of these methods is the Predictive Moving Average, which he introduced in his book “Rocket Science for Traders”. The concept is to take a difference of a lagging line from the original function to produce a leading function.
The idea is to extend this concept to moving averages. If you take a 7-bar Weighted Moving Average (WMA) of prices, that average lags the prices by 2 bars. If you take a 7-bar WMA of the first average, this second average is delayed another 2 bars. If you take the difference between the two averages and add that difference to the first average, the result should be a smoothed line of the original price function with no lag.
T3
To compute the T3 moving average, it involves a triple smoothing process using exponential moving averages. Here's how it works:
Calculate the first exponential moving average (EMA1) of the price data over a specific period 'n.'
Calculate the second exponential moving average (EMA2) of EMA1 using the same period 'n.'
Calculate the third exponential moving average (EMA3) of EMA2 using the same period 'n.'
The formula for the T3 moving average is as follows:
T3 = 3 * (EMA1) - 3 * (EMA2) + (EMA3)
By applying this triple smoothing process, the T3 moving average is intended to offer reduced noise and improved responsiveness to price trends. It achieves this by incorporating multiple time frames of the exponential moving averages, resulting in a more accurate representation of the underlying price action.
Thanks for checking this out and give a boost, if you enjoyed the content.
Best regards,
simwai
---
Credits to loxx
Here, I applied a special technique of John F. Ehlers to make lagging indicators leading. The T3 itself is usually not realling the classic lagging indicator, so it is not really needed, but I still publish this indicator to demonstrate this technique of Ehlers applied on a simple indicator.
The indicator does not repaint.
In the following picture you can see a comparison of normal T3 (purple) compared to a 2-bar "leading" T3 (gradient):
https://www.tradingview.com/x/UrFVoBOR/
The range of the gradient is:
- Bottom Value: the lowest slope of the last 100 bars -> green
- Top Value: the highest slope of the last 100 bars -> purple
Ehlers Special Technique
John Ehlers did develop methods to make lagging indicators leading or predictive. One of these methods is the Predictive Moving Average, which he introduced in his book “Rocket Science for Traders”. The concept is to take a difference of a lagging line from the original function to produce a leading function.
The idea is to extend this concept to moving averages. If you take a 7-bar Weighted Moving Average (WMA) of prices, that average lags the prices by 2 bars. If you take a 7-bar WMA of the first average, this second average is delayed another 2 bars. If you take the difference between the two averages and add that difference to the first average, the result should be a smoothed line of the original price function with no lag.
T3
To compute the T3 moving average, it involves a triple smoothing process using exponential moving averages. Here's how it works:
Calculate the first exponential moving average (EMA1) of the price data over a specific period 'n.'
Calculate the second exponential moving average (EMA2) of EMA1 using the same period 'n.'
Calculate the third exponential moving average (EMA3) of EMA2 using the same period 'n.'
The formula for the T3 moving average is as follows:
T3 = 3 * (EMA1) - 3 * (EMA2) + (EMA3)
By applying this triple smoothing process, the T3 moving average is intended to offer reduced noise and improved responsiveness to price trends. It achieves this by incorporating multiple time frames of the exponential moving averages, resulting in a more accurate representation of the underlying price action.
Thanks for checking this out and give a boost, if you enjoyed the content.
Best regards,
simwai
---
Credits to loxx
リリースノート
Fixed that lag and lag length inputs had no effectリリースノート
Added more inputsリリースノート
Reworked the gradientオープンソーススクリプト
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免責事項
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オープンソーススクリプト
TradingViewの精神に則り、この作者はスクリプトのソースコードを公開しているので、その内容を理解し検証することができます。作者に感謝です！無料でお使いいただけますが、このコードを投稿に再利用する際にはハウスルールに従うものとします。
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。