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.





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.

[simjs]

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..

[Tams]

you can replace

Value1 = Stochastic...

with

Value1 = Ergodic...


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