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.

[Tams]

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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[Tams]

here's another version of the Ergodic indicator
this one uses the exponential moving average
http://www.traderslaboratory.com/for...odic-1161.html

[aaa]

Hi TAMS

nice work !

I like this very smoothed indicator

It follows well the trend

[simjs]

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.

[Tams]

Originally Posted by simjs »

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 !

[simjs]

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.

[Tams]

Originally Posted by simjs »

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.

Originally Posted by simjs »

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?

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