INVITE-ONLY SCRIPT
MTF Even Better Sine Wave - Dr. John Ehlers
Updated
This is my enhanced "MTF Even Better Sine Wave" indicator using Pine Script version 4.0. This originates from the book "Cycle Analytics for Traders" written by Dr. John Ehlers in Chapter 12. While the original was simplistically designed, I enhanced it by adding a multitude of features Pine Script now accommodates.
Most noticeably is the multiple time frame (MTF) features in the indicator "Settings". The three displayed indicators are using 5 second, 30 second, and 7 minute time frames. This may be the first PSv4.0 script to accommodate seconds in MTF adequately, but don't quote me on that. I haven't spent hours extensively looking for them. Be forewarned, second-based time frames are currently for Premium subscribers only, until such time in the future when the prerogative of TV might change. I will be adding second-based time frames to my other indicators where I feel it is beneficial to the indicator.
Unlike Dr. John Ehlers' other Sinewave indicator that is intended for identifying turning points in cycling price fluctuations, the "Even Better Sine Wave", having stochastic like qualities, is intended for trending assets.
Features List Includes:
I.P.O.C.S.(Initial Public Offering Clean Start) Technology
Enable/disable dark background for enhanced visibility
"Source" selection with multiple time frame adjustments - including seconds
"Duration" adjustment
"Super Smoother BandEdge" adjustment
"Display Area" selection for visual mutations displayed above
Ranges and thresholds are enable/disable capable
Upper threshold adjustment
Lower threshold adjustment
Adjustable centered medial zone
Normalized zero mean to +/-1
This is not a freely available indicator, FYI. To witness my Pine poetry in action, properly negotiated requests for unlimited access, per indicator, may ONLY be obtained by direct contact with me using TV's "Private Chats" or by "Message" hidden in my member name above. The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. If you do have any questions or comments regarding this indicator, I will consider your inquiries, thoughts, and concepts presented below in the comments section, when time provides it. When my indicators achieve more prevalent use by TV members, I will implement more ideas when they present themselves as worthy additions. 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!
Most noticeably is the multiple time frame (MTF) features in the indicator "Settings". The three displayed indicators are using 5 second, 30 second, and 7 minute time frames. This may be the first PSv4.0 script to accommodate seconds in MTF adequately, but don't quote me on that. I haven't spent hours extensively looking for them. Be forewarned, second-based time frames are currently for Premium subscribers only, until such time in the future when the prerogative of TV might change. I will be adding second-based time frames to my other indicators where I feel it is beneficial to the indicator.
Unlike Dr. John Ehlers' other Sinewave indicator that is intended for identifying turning points in cycling price fluctuations, the "Even Better Sine Wave", having stochastic like qualities, is intended for trending assets.
Features List Includes:
I.P.O.C.S.(Initial Public Offering Clean Start) Technology
Enable/disable dark background for enhanced visibility
"Source" selection with multiple time frame adjustments - including seconds
"Duration" adjustment
"Super Smoother BandEdge" adjustment
"Display Area" selection for visual mutations displayed above
Ranges and thresholds are enable/disable capable
Upper threshold adjustment
Lower threshold adjustment
Adjustable centered medial zone
Normalized zero mean to +/-1
This is not a freely available indicator, FYI. To witness my Pine poetry in action, properly negotiated requests for unlimited access, per indicator, may ONLY be obtained by direct contact with me using TV's "Private Chats" or by "Message" hidden in my member name above. The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. If you do have any questions or comments regarding this indicator, I will consider your inquiries, thoughts, and concepts presented below in the comments section, when time provides it. When my indicators achieve more prevalent use by TV members, I will implement more ideas when they present themselves as worthy additions. 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!
Release Notes
Updated MTF controls, adding "Sampling Quantization" allow/remove selectionRelease Notes
Upgraded MTF controls and versatility. Refactoring and code cleanupRelease Notes
Major Revision:#1 - Included another smoother option, outperforming the original SuperSmoother. The Even Better Sine Wave" indicator just got better with reduced lag. This surpasses Ehlers' original intended design, often with a one bar quicker response time. You will observe this easily in many cases, switching between the two available.
#2 - Updated MTF controls to the most recent capabilities and computational efficiency.
#3 - Added an abundance of colors in the color scheme input(), supporting most common colors.
#4 - Provided a label to display the oscillator value with a precision input() adjustment.
#5 - Many other minor improvements available in Settings...
Release Notes
Added a multiple choice thresholds zone style selection in Settings.Invite-only script
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