Trendflex - Another new Ehlers indicator

Source: Stocks and Commodities V38

Hooray! Another new John Ehlers indicator!
John claims this indicator is lag-less and uses the SPY on the Daily as an example.
This indicator is a slight modification of Reflex, which I have posted here
I think it's better for Stocks and ETFs than Reflex since it factors in long trends. It tends to keep you in winning trades for a long time.

I believe this indicator can be used for entries or exits, potentially both.

1. Entering Long positions at the pivot low points (Stocks and ETFs)
2. Entering Long when the Reflex crosses above the zero lines (Stocks, ETFs, Commodities )

1. Exiting Long positions at a new pivot high point (Stocks and ETFs)
2. Exiting Long when the Reflex crosses below the zero lines (Stocks, ETFs, Commodities )

In this example, I place a Long order on the SPY every time the Reflex crosses above the zero level and exit when it crosses below or pops my stop loss, set at 1.5 * Daily ATR.
2/3 Wins

Let me know in the comment section if you're able to use this in a strategy.
Release Notes: 1. Added filter so you can tweak what is considered a "Trend". Default value of 1
2. Changed default plotting style to "Columns"
Release Notes: Final aesthetic changes.
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Thanks very much for the excellent script. I notice the intersection (or zero point) is at exactly at the same point with your MESA moving average , so is it correct to assume to use both is redundant ? If yes, what would you suggest to combine it with instead?
@MasBart, Sometimes the crosses line up, but not always. You can see here the MESA leads Trendflex by 3 bars.

I do think using them together (especially if you're limited to 3 indicators) could be redundant, but I like having the trend confirmation!
MasBart EmpiricalFX
@EmpiricalFX, thanks.
@MasBart, I've been playing around with this indicator by LazyBear recently. If you like Ehlers and these kinds of indicators, definitely worth checking out.
MasBart EmpiricalFX
@EmpiricalFX, thanks for the recommendation. Quickly trying it, and it seems very responsive. Btw I've been looking also into lazybear's Waddah Attar stuff to catch early explosive movement and it's nice.
@MasBart,I've been trying to find a decent volume indicator. I used the Waddah Attar for a few weeks, but realized it's not actually based on volume. It uses BB and the MACD...both of which are about 55% accurate for entries. Maybe you get a few more % gain when in combination?
MasBart EmpiricalFX
@EmpiricalFX, bollinger squeeze + Waddah Attar setup is quite good (even though as you've said WA is based on Bollinger too).
Btw volume indicator that I like: colored volume bars from lazybear, very simple but quite effective.
MasBart EmpiricalFX
@EmpiricalFX, how about Dynamic Money Flow?
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