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Falling-Rising FilterIntroduction This is a modification of an old indicator i made. This filter aim to adapt to market trend by creating a smoothing constant using highest and lowest functions. This filter is visually similar to the edge-preserving filter, this similarity can make this filter quite good for MA cross strategies. On The Filter Code a = nz(a ) + alpha*nz(error ) + beta*nz(error ) The first 3 terms describe a simple exponential filter where error = price - a , beta introduce the adaptive part. beta is equal to 1 when the price is greater or lower than any past price over length period, else beta is equal to alpha , someone could ask why we use two smoothing variable (alpha, beta) instead of only beta thus having : a = nz(a ) + beta*nz(error ) well alpha make the filter converge faster to the price thus having a better estimation. In blue the filter using only beta and in red the filter using alpha and beta with both length = 200 , the red filter converge faster to the price, if you need smoother results but less precise estimation only use beta . Conclusion I have presented a simple indicator using rising/falling functions to calculate an adaptive filter, this also show that when you create an exponential filter you can use more terms instead of only a = a + alpha*(price - a ) . I hope you find this indicator useful. Thanks for reading !
Indicatore Pine Script®
di alexgrover
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