OPEN-SOURCE SCRIPT

Ehlers Simple Clip Indicator [CC]

Updated

The Simple Clip Indicator was created by John Ehlers (Stocks and Commodities June 2021 pg 10) and this is obviously very similar to the previous indicator I published (Ehlers Simple Deriv Indicator) so I would recommend to try both out and see what you prefer. This is a new momentum indicator that is extremely responsive to price changes and when the indicator is above 0 then this means the stock is in a long term uptrend and when it is below 0 then it is in a long term downtrend. I have color coded the indicator line to show you both strong buy and sell signals and normal buy and sell signals. Dark colors are strong signals and of course green means a buy signal and red means a sell signal. I did change the original buy and sell signals that Ehlers included in his scripts because I didn't find that they worked very well so let me know what you think of my changes.

Let me know if there are any other indicators you would like to see me publish!

Release Notes

Added a zero line as requested

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.

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