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[blackcat] L1 Ehlers Every Little Bit Helps

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Background

Inspired by "Averaging The Open And Close To Reduce Noise" on March 2023 by John F. Ehlers’ article in the March issue, “Every Little Bit Helps”, I further smooth it because noise was still large and “Every Little Bit Does Not Helps Much”.

Function

In John F. Ehlers' 03/2023 article, "Every Little Bit Helps," he suggests that noise can be reduced by simply averaging the open and close prices of a bar, rather than just using the close price. The data sampling example presented in this article compares the traditional RSI using close data to an RSI calculated using the average of the open and close.

Compared to RSI, I used my customized RMI version which is more suitable for moment smoothing. For example, the price entry of the 1st RMI can be changed from Close to (Close + Open) / 2. In fact, the RMI indicator itself has a price input that can be changed in a similar way. You can change the input parameter "m" to "More Help", which is 5 by default.

Remarks
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blackcat1402Oscillators

开源脚本

本着真正的TradingView精神,此脚本的作者已将其开源,以便交易者可以理解和验证它。向作者致敬!您可以免费使用它,但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。

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