Forex Hodrick Prescott Indicator
Forex Hodrick Prescott Indicator:
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 alers
- history: the number of history bars to process, 0=all history(takes time to load the indicator)
What does Forex Indicator mean?
A forex indicator is a statistical tool that currency traders use to make judgements about the direction of a currency pair’s price action. Forex indicators come in many types, including leading indicators, lagging indicators, confirming indicators and so on. Popular forex indicators include moving averages, relative strength index (RSI) and average true range (ATR). A forex trader must choose the indicators that fit his or her trading strategy.
How to install Forex Hodrick Prescott Indicator?
- Download Forex Hodrick Prescott Indicator.zip
- Copy mq4 and ex4 files to your Metatrader Directory / experts / indicators /
- Copy tpl file (Template) to your Metatrader Directory / templates /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your forex indicator
- Load indicator on your chart
How to uninstall Forex Hodrick Prescott Indicator?
To shut down an indicator, one has to remove it from the chart. At that, its drawing and recalculation of its values will stop. To remove an indicator from the chart, one has to execute its context menu commands of “Delete Indicator” or “Delete Indicator Window”, or the chart context menu command of “Indicators List – Delete”.