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Forex Indicator HPF

The Hodrick Prescott Filter (HPF) is a tool used to remove fluctuations from static economic series and for detrending. In dynamic series like FOREX quotes it will be constantly changing. The attached indicator is something like a Moving Average equivalent that shows the HPF value for a given bar so it won’t repaint.

Some of the features are:

  • It shows market trend based on selectable trend strength
  • It can display(or not) HPF
  • It displays up to 2 bands centered on “MA” or on HPF
  • MTF support

The inputs are:

  • nobs: the number of HPF bars
  • lambda: the dambing factor
  • timeframe: the applied timeframe
  • price: the price on which HPF is evaluated, same as iMA()
  • delay: shows the “MA” by delaying (or advancing if negative) the HPF
  • trend: selects the trend strength (how many consecutive HPF bars to check)
  • future: shows HPF future bars
  • bands: if >0 the number of bars for band calculation
  • band#: the deviation for # band (if<0) then centered on HPF
  • type#: the # band type -1=HPF 0=applied price 1=mean 2=extreme price 3=closest price 4=median 5=typical 6=weighted
  • repaint: if true processes each tick
  • points: if true plots up/downtrend as point on “MA”
  • alerts: enable alerting
  • audio: the filename of a .WAV file to be used for audio alerts
  • history: the number of history bars to process, 0=all history(takes time to load the indicator)
 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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