A different take on moving average, this indicator avoids the problem of redraw making it more accurate for trend trading.
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 damping 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)
MT4 Indicators – Download InstructionsHodrick Prescott Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data. Hodrick Prescott Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Hodrick Prescott Indicator.mq4?
- Download Hodrick Prescott Indicator.mq4
- Copy Hodrick Prescott Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Hodrick Prescott Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Hodrick Prescott Indicator.mq4 is available on your Chart
How to remove Hodrick Prescott Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete