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The Ehlers Decycler Oscillator is a trading indicator developed by John F. Ehlers.
The goal of this oscillator is to eliminate very low-frequency components from the Ehlers Simple Decycler by using the half-period Ehlers Highpass filter and transforming the output into the oscillator.
The oscillator is calculated by taking the ratio of the high-pass output data to price then multiplied by a coefficient, which is equal to 1 by default.
You might want to adjust the coefficient if you plot several instances of the oscillator on the same pane.
The interpretation of the Ehlers Decycler Oscillator is that crossovers of oscillators with different coefficients can help identifying important trend reversals.
Example of usage:
decycle= decyclerOsc(100, 1.2); // 100 as period and 1.2 as coefficient
plot(decycle, "Ehlers Decycler Oscillator", colorRed);
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
