OPEN-SOURCE SCRIPT

Ehlers Truncated BandPass Filter [CC]

Updated

Hot off the presses! The Truncated BandPass Filter was created by John Ehlers (Stocks & Commodities July 2020) and this is a much more reactive version of his original bandpass filter. When the indicator rises above 0 then it is an uptrend and when it falls below 0 then it is in a downtrend. Buy when the indicator line is red and sell when it is green.

Let me know if there are other scripts you would like to see me publish or if you want something custom done!

Release Notes

The FM Demodulator Indicator was created by John Ehlers (Stocks and Commodities May 2021 pg 14) and this is a very good complementary indicator to the new AM Detector that I just published. It uses his super smoother filter for smoothing but you can try other combos for smoothing. This indicator does a very good job tracking price swings as you can see it follows the major swings pretty well. 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!

Release Notes

Ignore the previous release notes. Now that tv uses arrays I have fixed the indicator to work as originally intended

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.

Want to use this script on a chart?

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I created the largest stock indicator library:
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