OPEN-SOURCE SCRIPT
Ehlers Market State Indicator [CC]
Updated
The Market State Indicator was created by John Ehlers (Stocks & Commodities V. 38:06 (8–15)) and this is technically part of three indicators in one so I'm splitting each one to a separate script. This particular indicator was designed for the market state which acts as a trend direction and tells you whether the trend is strong in either direction. Keep in mind that when the indicator rapidly switches then the market is choppy and when it is a steady line then it is a very strong trend. Essentially buy when the indicator line is green and sell when it is red.
Let me know if you would like me to publish other scripts or if you want something custom done!
Note: I'm republishing this because the original script couldn't be found in searches so this will fix that.
Let me know if you would like me to publish other scripts or if you want something custom done!
Note: I'm republishing this because the original script couldn't be found in searches so this will fix that.
Release Notes
fixed issue with default resolutionOpen-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.
I created the largest stock indicator library:
github.com/ooples/
Custom Indicator Requests:
forms.gle/ouMffZR3dQ8bSJQG7
Tips are appreciated:
paypal.me/cheatcountry
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github.com/ooples/
Custom Indicator Requests:
forms.gle/ouMffZR3dQ8bSJQG7
Tips are appreciated:
paypal.me/cheatcountry
patreon.com/cheatcountry
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.