The 2 Pole Butterworth Filter was created by John Ehlers (Cycle Analytics For Traders pg 32) and this is an updated version of his original 2 pole Butterworth Filter script that seems to follow the price even closer. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are other scripts you would like to see me publish or if you want something custom done!
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Hi Cheatcountry, thanks for your work. Can i ask you?
In Ehlers' "Cycle Analytics ..." I read:
Output = c1 * Input - c2 * Output - c3 * Output
In your code:
bf: = (c1 * src) + (c2 * nz (bf )) + (c3 * nz (bf ))
A plus! Why?
Or am I missing something?
Very cool indicator, i like the visual and it's simplicity. Looks like indicator might work well with trending market, but when market starts to move sideways, that is something i am thinking about now.
Overall, thanks for sharing this, it's awesome.