mirror of
https://github.com/mihakralj/QuanTAlib.git
synced 2026-07-29 02:07:42 +00:00
Miha Kralj
55 lines
2.0 KiB
Plaintext
55 lines
2.0 KiB
Plaintext
// The MIT License (MIT)
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// © mihakralj
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//@version=6
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indicator("Elder's Thermometer", "ETHERM", overlay=false)
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//@function Calculates Elder's Market Thermometer with EMA signal line
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//@param period The EMA smoothing period for the signal line
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//@returns [thermometer, signal] The raw thermometer value and EMA signal line
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//@optimized Beta precomputation for EMA warmup compensation
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etherm(simple int period) =>
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if period <= 0
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runtime.error("Period must be greater than 0")
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// Step 1: Calculate raw thermometer value
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// Temperature = max(abs(High - prevHigh), abs(prevLow - Low))
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// Inside bar (High < prevHigh AND Low > prevLow) => 0
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float prevHigh = nz(high[1], high)
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float prevLow = nz(low[1], low)
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float highDiff = math.abs(high - prevHigh)
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float lowDiff = math.abs(prevLow - low)
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bool isInsideBar = high < prevHigh and low > prevLow
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float temp = isInsideBar ? 0.0 : math.max(highDiff, lowDiff)
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// Step 2: EMA of thermometer with warmup compensation
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float alpha = 2.0 / float(period + 1)
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float beta = 1.0 - alpha
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var float EPSILON = 1e-10
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var float raw_ema = 0.0
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var float e = 1.0
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float signal = na
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if not na(temp)
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raw_ema := raw_ema * beta + temp * alpha
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e *= beta
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signal := e > EPSILON ? raw_ema / (1.0 - e) : raw_ema
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[temp, signal]
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// ---------- Main loop ----------
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// Inputs
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i_period = input.int(22, "EMA Period", minval=1, tooltip="Number of bars for the EMA signal line")
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i_multiplier = input.float(3.0, "Explosive Threshold", minval=0.1, step=0.5, tooltip="Multiplier for explosive move detection")
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// Calculation
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[thermValue, signalValue] = etherm(i_period)
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// Colors
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bool isExplosive = thermValue >= signalValue * i_multiplier
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bool isHot = thermValue >= signalValue
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color thermColor = isExplosive ? color.red : isHot ? color.orange : color.new(color.blue, 30)
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// Plot
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plot(thermValue, "Thermometer", color=thermColor, style=plot.style_histogram, linewidth=2)
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plot(signalValue, "Signal", color=color.yellow, linewidth=2)
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