Super Passband Filter 2.0 - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources

As John Ehlers describes:

The bandpass oscillator is designed to remove high and low frequencies from market data to eliminate the resulting signal fluctuations and significantly reduce lag. This passband indicator differs by using 2 different periods of EMA. (40 and 60). The trigger point adds an RMS loop envelope to the signal for a bandpass oscillator. The output of the passband waveform is calculated by summing its squares over the last 50 bars and taking the square root of the average sum to create the trigger level.

Buy when the passband crosses its -RMS line. A short circuit occurs when the passband is below the RMS line.

Deviations from the original are allowed for different calculation periods (the default is as described, but any calculation period is allowed)

The indicator also has an unusually large price selection - 22 types - you will find their descriptive names in the price drop-down selection box (they are self-descriptive, so you should have no problem identifying what they represent)

The indicator already has all common alert sets and is multi-timeframe. Added padding areas when exiting the RMS envelope to help pinpoint (and alert on) the moment when an outage occurs. However, some parametric experiments are recommended - John Ehlers usually tests his ideas on commodities - commodities are significantly less volatile than FX - making some adjustments to FX conditions may be a wise choice

Attachment download

📎 super_passband_filter_2.mq5 (30.54 KB)

Source: MQL5 #16687