Trend_Component – indicator for MetaTrader 5

John Ehlers Trend Component Indicator.

It has three input parameters:

  • Period – calculation period;
  • Delta – factor to calculate gamma;
  • Applied price – price used for calculations.

Calculations:

Trend Component = SMA(2*Period + 1, BP)

where:

BP = 0.5*(1.0 - alpha)*(Price[0] - Price[2]) + beta*(1.0 + alpha)*BP[1] - alpha*BP[2]
alpha = gamma*SQRT(gamma*gamma - 1.0)
gamma = 1.0/COS(4.0*Pi*Delta/Period)
beta = COS(2.0*Pi/Period)