PROTECTED SOURCE SCRIPT
Bandpass Filter v2
Attempts to detect trends based on detrended cycles, instead of momentum or price action!
If you enable bar painting, then uptrends will be painted in lime green, then dark green to signify the cycle is ending.
Downtrends will be painted in bright red, then maroon to signify the cycle is ending.
Reducing fast limit will allow the indicator to respond much faster to cycle changes, but may cause more weak signals.
Increasing slow limit will "hold on to" cycles for a longer time & allow trends to extend through small periods of consolidation.
Tweak these settings to your style of trading!
Good settings for scalping:
14, 35
Good settings for intraday:
30, 60
40, 80
Good settings for swing trades:
20, 200 (gets into trade earlier)
50, 120
Ultimately, you'll have to decide the best limits for each security.
Cheers,
DasanC
If you enable bar painting, then uptrends will be painted in lime green, then dark green to signify the cycle is ending.
Downtrends will be painted in bright red, then maroon to signify the cycle is ending.
Reducing fast limit will allow the indicator to respond much faster to cycle changes, but may cause more weak signals.
Increasing slow limit will "hold on to" cycles for a longer time & allow trends to extend through small periods of consolidation.
Tweak these settings to your style of trading!
Good settings for scalping:
14, 35
Good settings for intraday:
30, 60
40, 80
Good settings for swing trades:
20, 200 (gets into trade earlier)
50, 120
Ultimately, you'll have to decide the best limits for each security.
Cheers,
DasanC
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