Triple Ehlers Market State

2023년 9월 29일

Clear trend identification is an important aspect of finding the right side to trade, another is getting the best buying/selling price on a pullback, retracement or reversal. Triple Ehlers Market State can do both.

Three is always better

Ehlers’ original formulation produces bullish, bearish and trendless signals. The indicator presented here gate stages three correlation cycles of adjustable lengths and degree thresholds, displaying a more refined view of bullish, bearish and trendless markets, in a compact and novel way.

Stick with the default settings, or experiment with the cycle period and threshold angle of each cycle, then choose whether ‘Recent trend weighting’ is included in candle colouring.

John Ehlers is a highly respected trading maths head who may need no introduction here. His idea for Market State was published in TASC June 2020 Traders Tips. The awesome interpretation of Ehlers’ work on which Triple Ehlers Market State’s correlation cycle calculations are based can be found at:

https://www.tradingview.com/script/wyyXKHDn-Correlation-Cycle-CorrelationAngle-Market-State-John-Ehlers/

DISCLAIMER: None of this is financial advice.

2023년 9월 29일

릴리즈 노트

Bug fix on 'Recent trend weighting' bar conditions. Please ensure you update to this version.

2023년 11월 10일

릴리즈 노트

Alerts & (optional) test plots added

2023년 11월 20일

릴리즈 노트

'Any alert' added, as requested.

New theme also added.

2024년 3월 16일

릴리즈 노트

IMPORTANT: Much improved alerts remove false positives.

2024년 3월 16일

릴리즈 노트

New look 'n feel, for those of you who prefer green on top and red underneath. This may seem more logic, or fit in better visually with other oscillators you use.

Also, added visual signals by default, indicating trade direction position open and close.