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Tams

Ergodic (Double Weighted)

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Ergodic (Double Weighted)

 

 

Based on a concept by William Blau

as described in his book Momentum, Direction, and Divergence

 

the Ergodic Oscillator (EO) is a double smoothed index with a signal line.

The Ergodic is intended to act like a stochastic indicator without the "compression" often seen with stochastics at extremes.

As a result, the Ergodic helps to register long trends in prices.

 

 

attachment.php?attachmentid=16537&stc=1&d=1260665800

 

 

Note:

This EasyLanguage indicator was written in MultiCharts.

I have not tested it in other compatible programs.

Please refer to your users manual for importation instructions.

ERG.thumb.png.fe0a6fac74f513e66c2c68a8d4584e3e.png

Ergodic Double Weighted.txt

ERG_Double_Weighted_(MultiCharts).pla

Edited by Tams

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TSI (True Strength Index) is include in this indicator.

To enable TSI, go to Format Study and change the "ShowTSI" from false to true.

 

As highlighted in Bill Blau's book Momentum, Direction and Divergence, the True Strength Index (TSI) is a double smoothed momentum indicator:

Through the use of two sequential moving averages, the TSI yields "low lag, smooth curves which also show trending characteristics of price."

 

.

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Hi Tams,

 

Thanks for sharing this indicator.

 

Will you be able to help convert this to Ninja or MT4 ?

 

I look forward to your reply.

 

Thanks.

 

buy MultiCharts... then you can enjoy ALL my indicators !

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Hi Tams,

 

I just tried the indicator and I am really impressed.

 

Thank you for your sharing.

 

Will you be able to make the histogram large ?

 

Beside that, is that possible to draw line or show sign if histogram or Ergodic create divergence with price ?

 

I look forward to your reply.

 

Thanks.

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Hi Tams,

 

I just tried the indicator and I am really impressed.

 

Thank you for your sharing.

 

Glad to hear you like it.

It is always good to hear feedbacks...

how people use the indicator, and how people modify it to give more/better signal.

 

 

Will you be able to make the histogram large ?

 

Beside that, is that possible to draw line or show sign if histogram or Ergodic create divergence with price ?

 

I look forward to your reply.

 

Thanks.

 

With EasyLanguage... almost anything is possible.

 

can you draw a mock up to illustrate your vision?

 

82.30

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Hi Tams,

 

I wonder whether I can combine the method of Stochastic Divergence into your Ergodic Indicator ?

 

This is the code for Stochastic Divergence:-

 

inputs: StochLength(7), SmoothingLength1(3), SmoothingLength2(3), SmoothingType(1), Length(20), LeftStrength(3), RightStrength(1);

 

variables: oFastK(0), oFastD(0), oSlowK(0), oSlowD(0), oPivotPrice1(0), oPivotBar1(0), oPivotPrice2(0), oPivotBar2(0);

 

Value1 = Stochastic (H, L, C, StochLength, SmoothingLength1, SmoothingLength2, SmoothingType, oFastK, oFastD, oSlowK, oSlowD);

 

Condition1 = Pivot(oSlowD,Length,LeftStrength,RightStrength,1,-1,oPivotPrice1,oPivotBar1) <> -1 AND (oPivotBar1-RightStrength) = 0;

 

Condition2 = Pivot(oSlowD, Length, LeftStrength,RightStrength,2,-1,oPivotPrice2,oPivotBar2) <>-1;

 

If Condition1 AND Condition2 AND L[oPivotBar2] >= L[oPivotBar1] AND oSlowD[oPivotBar2] < oSlowD[oPivotBar1] then

Begin

Value2 = TL_New(D[oPivotbar2], T[oPivotBar2], L[oPivotBar2], D[oPivotBar1], T[oPivotBar1], L[oPivotBar1]);

TL_SetColor(Value2, Green);

TL_SetSize(Value2,3);

End;

 

Plot1(oSlowD);

 

But the above code is calling the Stochastic function from TS/MC. So I wonder, how put the idea on to your indicator ? As your current indicator is not a function.

 

I look forward to your help.

 

Thanks.

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Hi Tams,

 

Please ignore my previous post. Below are the code for ergodic function :-

 

Inputs:

timeSeries(numericseries),

length1(numericsimple),

length2(numericsimple),

length3(numericsimple),

Histogram(numericref),

TSI(numericref);

 

Variables:

_TSI(0),

_diff(0),

smoothedErg(0),

histo(0),

WAvg(0),

WWAvg(0),

WWAvg.diff(0),

WAvg.diff(0);

{========== End of variables ==========}

 

_diff = timeSeries - timeSeries[1];

WAvg = WAverage(_diff, length1);

WWAvg = 100 * WAverage(WAvg, length2);

WAvg.diff = WAverage(AbsValue(_diff), length1);

WWAvg.diff = WAverage(WAvg.diff, length2);

If WWAvg.diff <> 0 then

_TSI = WWAvg / WWAvg.diff

Else

_TSI = 0;

 

smoothedErg = XAverage(_TSI, length3);

 

TSI = _TSI;

Histogram = _TSI - smoothedErg;

Ergodic = smoothedErg;

 

Thanks.

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Hi Tams,

 

Will you be able to help for the following code. I will like to mark the divergence ERG with price.

I actually modify the code of sto divergence code to ERG divergence......somehow it didn't work .......

 

I look forward to some help....

 

Thanks in advance..

 

inputs: TimeSeries(Close), PriceL(Low), PriceH(High), length1(49), length2(147), length3(49), showTSI(false), TSI(0), histo(0), smoothedErg(0), Length(20), LeftStrength(3), RightStrength(1), BarTol(3);

 

Variables: oFastK(0), oFastD(0), oSlowK(0), oSlowD(0), oPivotPrice1(0), oPivotBar1(0), oPivotPrice2(0), oPivotBar2(0), oPivotPrice3(0), oPivotBar3(0), oPivotPrice4(0), oPivotBar4(0), oPivotPrice5(0), oPivotBar5(0), oPivotPrice6(0), oPivotBar6(0), oPivotPrice7(0), oPivotBar7(0), oPivotPrice8(0), oPivotBar8(0), StochBarsBack1(0);

 

Value1 = Ergodic(C, Length1, Length2, Length3, histo, TSI);

 

Condition3 = Pivot(PriceL, Length, LeftStrength, RightStrength, 1,-1, oPivotPrice3, oPivotBar3) <> -1;

Condition4 = Pivot(PriceL, Length, LeftStrength, RightStrength, 2,-1, oPivotPrice4, oPivotBar4) <> -1;

 

Condition5 = Pivot(PriceH, Length, LeftStrength, RightStrength, 1,1, oPivotPrice5, oPivotBar5) <> -1;

Condition6 = Pivot(PriceH, Length, LeftStrength, RightStrength, 2,1, oPivotPrice6, oPivotBar6) <> -1;

 

 

Condition1 = Pivot(Ergodic, Length, LeftStrength, RightStrength, 1,-1, oPivotPrice1, oPivotBar1) <> -1;

Condition2 = Pivot(Ergodic, Length, LeftStrength, RightStrength, 2,-1, OPivotPrice2, OPivotBar2) <> -1;

 

Condition7 = Pivot(Ergodic, Length, LeftStrength, RightStrength, 1,1, oPivotPrice7, oPivotBar7) <> -1;

Condition8 = Pivot(Ergodic, Length, LeftStrength, RightStrength, 2,1, OPivotPrice8, OPivotBar8) <> -1;

 

 

If Condition3 and Condition4 and Condition1 and Condition2

and (AbsValue(oPivotBar1 - oPivotbar3) < BarTol)

and (AbsValue(oPivotBar2 - oPivotBar4) < BarTol)

and (oPivotBar3 = RightStrength OR oPivotBar1 = RightStrength)

and (oPivotPrice3 <= oPivotPrice4 and oPivotPrice1 > oPivotPrice2) and BarStatus(1) = 2 then

Begin

Value2 = TL_New(D[oPivotBar4], T[oPivotBar4], L[oPivotBar4], D[oPivotBar3], T[oPivotBar3], L[oPivotBar3]);

TL_SetColor(Value2, Green);

TL_SetSize(Value2,3);

End;

 

If Condition5 and Condition6 and Condition7 and Condition8

and (AbsValue(oPivotBar7 - oPivotbar5) < BarTol)

and (AbsValue(oPivotBar8 - oPivotBar6) < BarTol)

and (oPivotBar5 = RightStrength OR oPivotBar7 = RightStrength)

and (oPivotPrice5 >= oPivotPrice6 and oPivotPrice7 < oPivotPrice8) and BarStatus(1) = 2 then

Begin

Value3 = TL_New(D[oPivotBar6], T[oPivotBar6], L[oPivotBar6], D[oPivotBar5], T[oPivotBar5], H[oPivotBar5]);

TL_SetCOlor(Value3, Red);

TL_SetSize(Value3,3);

End;

 

Plot1(Ergodic);

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Glad to hear you like it.

It is always good to hear feedbacks...

how people use the indicator, and how people modify it to give more/better signal.

 

 

 

 

With EasyLanguage... almost anything is possible.

 

can you draw a mock up to illustrate your vision?

 

82.30

 

 

draw a mock up means to draw a picture.

Edited by Tams

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Hi Tams,

 

Attached is the chart. I manually draw the ergodic divergence line on the chart with orange color and histogram divergence line with aqua color.

 

Thanks.

5aa70ffa56b64_TFChart.thumb.jpg.23bb4775698305f9826feb65af83c12f.jpg

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Hi Tams,

 

I already view it....

 

I got my sto divergence code from the site and try to modify it for ERG.

 

But some how I didn't do it correctly and when I compile it come out error.

 

So I wonder anyone who good at Easy language can help to point out where is the error.

 

Thanks for the advice.

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Hi Tams,

 

I already view it....

 

I got my sto divergence code from the site and try to modify it for ERG.

 

But some how I didn't do it correctly and when I compile it come out error.

 

So I wonder anyone who good at Easy language can help to point out where is the error.

 

Thanks for the advice.

 

 

if you post your work-in-progress,

and explain what you have attempted,

I am sure someone would chime in.

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Hi Tams,

 

Will you be able to advice on the ergodic function that I had posted as I can't use it because of the 2 parameters Histogram(numericref), TSI(numericref);

 

Due to this 2 parameters I can't actually use the function because of numericref didn't pass parameter during function call...

 

Please help to advice to improve the code.....

 

Thanks in advance..

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you can replace

 

Value1 = Stochastic...

 

with

 

Value1 = Ergodic...

 

 

take care to match ALL the respective components with an appropriate substitute.

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