OPEN-SOURCE SCRIPT
Ehlers Squelch Indicator [CC]
The Squelch Indicator was created by John Ehlers (Stocks & Commodities V. 18:9 (42-46)) and this indicator is a variation of his Market Mode Indicator and its purpose is the same as in it determines if the market is trending or in a choppy market. If this indicator is at the 1 level then this means the market is trending and if it is at 0 then the market is choppy. I would recommend to adjust the squelch variable to find a setting that works well for you. If you want to avoid more choppy markets then adjust the squelch variable to a lower amount and vice versa. I have included basic buy and sell signals so buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Let me know if there are any other indicators you would like to see me publish!
I created the largest stock indicator library:
github.com/ooples/
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github.com/ooples/
Custom Indicator Requests:
forms.gle/ouMffZR3dQ8bSJQG7
Tips are appreciated:
paypal.me/cheatcountry
patreon.com/cheatcountry
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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