OPEN-SOURCE SCRIPT
Ehlers Two-Pole Stochastic
This indicator implements John Ehlers' Two-Pole Stochastic Filter, a smoother alternative to the traditional stochastic oscillator. Instead of relying on raw %K values, it applies a second-order IIR filter (recursive smoothing) to reduce noise and improve trend clarity.
It outputs a single line oscillating between 0 and 1, with less lag and false signals compared to standard stochastic implementations.
Key Features:
Uses a two-pole filter to smooth the normalized stochastic (%K).
Ideal for detecting clean reversals and trend continuations.
Designed for minimal visual noise and greater signal confidence.
Interpretation:
Values near 1.0 may suggest overbought conditions.
Values near 0.0 may suggest oversold conditions.
Crosses above 0.5 can signal bullish shifts, and below 0.5 bearish shifts.
Recommended Settings:
Default smoothing factor (alpha) is 0.7 — higher values make the output more responsive, while lower values smooth further.
Inspired by concepts from Cybernetic Analysis for Stocks and Futures by John F. Ehlers.
It outputs a single line oscillating between 0 and 1, with less lag and false signals compared to standard stochastic implementations.
Key Features:
Uses a two-pole filter to smooth the normalized stochastic (%K).
Ideal for detecting clean reversals and trend continuations.
Designed for minimal visual noise and greater signal confidence.
Interpretation:
Values near 1.0 may suggest overbought conditions.
Values near 0.0 may suggest oversold conditions.
Crosses above 0.5 can signal bullish shifts, and below 0.5 bearish shifts.
Recommended Settings:
Default smoothing factor (alpha) is 0.7 — higher values make the output more responsive, while lower values smooth further.
Inspired by concepts from Cybernetic Analysis for Stocks and Futures by John F. Ehlers.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。