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Hodrick Prescott Indicator - indicator for MetaTrader 4

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votes: 2
2009.10.23 09:25
2014.04.21 14:54
HPMA102.mq4 (19.69 KB)view

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)

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