Free Indicators

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This indicator is an implementation of Hodrick-Prescott( HP ) filter
This filter is a mathematical model the can remove cyclical components from the price signal to get the trend components.

• “Lambda” is the smoothing factor and can have a value between 1 and infinity.
• “Length” is the number of previous prices that are included in the filter.

The default values of lambda and length work well for almost all time frames.

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This indicator illustrates the High-to-Low variation. It works nicely on shorter time frames.
The index value is calculated based on the observation length (Memory Length). By changing this input, you can have a wider or shorter observation range.
MA Length is the moving average filter length, which smooths out the signal.
There is an additional smoothing function to make the output even smoother (Smoothing Length). Remember, that “Smoothing Length” is better to be less than “MA Length”.
You may activate the trend direction.