The Instantaneous Trendline was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pg 24) and this is an updated version of his original Instantaneous Trendline that works much better in my opinion. Buy when the indicator line turns green and sell when it turns red.
Let me know what other scripts you would like to see me publish or if you want something custom done!
@DuneStrider, It doesn't repaint by default but you can turn repainting on in the options if you want
SteveP96
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The codes in V1 and V2 are quite different and the difference in speed of the 2 versions is significant as well. My guess is that the V2 is the more closer to Dr. Ehlers' original code? Anyhow, much thanks!
cheatcountry
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@TropicalSteve1996, no they are both from ehlers code but v2 is his redesign for the v1 idea that was published in a later book
ersnylm
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Hi @cheatcountry I am using Ehlers instantaneous indicator for support and resistance. I'm doing scalp trading. (using 5 minutes and 15 minutes chart.) Which and what values would you recommend between version 1 and version 2? Which line should I use? Waiting for your suggestions Also sorry my english is not very good
cheatcountry
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@ersnylm, So the colored line is the one you want to track so if it is green then it is buy and red it is sell. Version 2 seems to give less false signals so I would recommend that one
tornadoatc
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The Resolution selection does not seem to work correctly when placing the indicator on a Daily Chart and setting Resolution = "1 week"? The plotted values change but are not the same values as when the base chart is a "1 week" chart and indicator is set to "same as chart". Is there a way to fix this or am I missing something related to the MTF aspect?
I am trying to create a MTF version where I can plot values of both Daily and Weekly on Daily chart. Suggestions appreciated.
cheatcountry
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@tornadoatc, No it works just fine. You may have to turn on repainting then because disabling repainting also delays all inputs by one bar so you won't see the up to date data. Turning off repainting is only really good during live trading when the current bar is still open
stevenwalter0
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I'm trying to understand the repaint option on your indicators. On a lot of your indicators you have the option to not allow repainting and I see you are by default taking the data from the previously closed candle so that the current bars value doesn't fluctuate while the candle is open. It seems you have a stricter definition of repainting. My understanding of repainting is that the previously closed candles (say close1) value is changed after it has been closed (or becomes close2). It seems in your indicators even if you "Allow repainting", it doesn't repaint in the typical sense that falsely appears to predict the future by modifying past data, it seems it just means something like the "current bar's data is subject to change until the bar closes, but once it closes it will not change ever”, so then it would still be safe to use your “Allow repainting option”. Is this a correct understanding?
cheatcountry
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@stevenwalter0, Repainting simply means that it uses the most current data even if the current bar is still open. The previous values don't actually get changed but if you use the latest bar which does keep changing until it is closed then that does throw people off with incorrect info. The best way to solve this problem is only use the previous bar which is already closed so the values won't change. I hope that helps explain everything. Feel free to pm me for more questions