OPEN-SOURCE SCRIPT
TASC 2022.02 Ehlers' Elegant Oscillator
█ OVERVIEW
TASC's February 2022 edition of Traders' Tips includes the "Inverse Fisher Transform Redux — An Elegant Oscillator" article authored by John Ehlers. This is the code implementing the "Elegant Oscillator" from the article.
█ CONCEPTS
By applying the inverse Fisher transform to a waveform with a nominal Gaussian probability distribution using root mean square (RMS) scaling and smoothing the result, John Ehlers creates an oscillator that swings between -1 and 1.
█ CALCULATIONS
The calculation process uses the following steps:
• Compute the 2-bar difference of closing prices.
• Calculate the root mean square (RMS) of the differences.
• Scale the differences using the computed RMS.
• Apply the inverse Fisher transform to the scaled values.
• Smooth the transformed data with the SuperSmoother filter.
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TASC's February 2022 edition of Traders' Tips includes the "Inverse Fisher Transform Redux — An Elegant Oscillator" article authored by John Ehlers. This is the code implementing the "Elegant Oscillator" from the article.
█ CONCEPTS
By applying the inverse Fisher transform to a waveform with a nominal Gaussian probability distribution using root mean square (RMS) scaling and smoothing the result, John Ehlers creates an oscillator that swings between -1 and 1.
█ CALCULATIONS
The calculation process uses the following steps:
• Compute the 2-bar difference of closing prices.
• Calculate the root mean square (RMS) of the differences.
• Scale the differences using the computed RMS.
• Apply the inverse Fisher transform to the scaled values.
• Smooth the transformed data with the SuperSmoother filter.
Join TradingView!
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Tools and ideas for all Pine coders: tradingview.com/u/PineCoders/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Tools and ideas for all Pine coders: tradingview.com/u/PineCoders/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
Pine news broadcasts: t.me/PineCodersSquawkBox or twitter.com/PineCoders
TASC: traders.com/
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.