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The indicator shows the High, Close and Low of the previous day, week or month. These levels are very commonly used as support and resistance among traders, so the indicator will draw them and leave a gap between periods to make it easy to distinguish when a new one started.
When a new bar is occurred, the indicator defines points to draw trend lines and, if the coordinates of points are changed, it redraws the lines. When determining the points, the current bar is ignored. Support line is drawn on low, resistance line is drawn on high. There are two points of determining in the indicator. Both types are described below on the example of the support line.
Center of Gravity actually has a zero lag and allows to define turning points precisely. This indicator is the result of Ehler's study of adaptive filters.
The indicator Center of Gravity allows to identify main pivot points almost without any lag.
The idea of calculating a center of gravity appeared from the investigation of lags of different filters with the finite impulse response (FIR) in accordance with the relative amplitude of filter coefficients. SMA (Simple Moving Average) is a FIR-filter, in which all coefficients have one and the same value. As a result the center of gravity of SMA is an exact center of the filter. WMA (Weighted Moving Average) is a FIR-filter, in which the last price change is weighted through the filter length, and so on.
The values of weighting are coefficients of filters. Coefficients of WMA filters can be presented as contours of a triangle. The center of gravity is on the 1/3 of the triangle base length. Thus WMA gravity center is shifted to the right with respect to the c
The indicator Center of Gravity allows to identify main pivot points almost without any lag.
The idea of calculating a center of gravity appeared from the investigation of lags of different filters with the finite impulse response (FIR) in accordance with the relative amplitude of filter coefficients. SMA (Simple Moving Average) is a FIR-filter, in which all coefficients have one and the same value. As a result the center of gravity of SMA is an exact center of the filter. WMA (Weighted Moving Average) is a FIR-filter, in which the last price change is weighted through the filter length, and so on.
The values of weighting are coefficients of filters. Coefficients of WMA filters can be presented as contours of a triangle. The center of gravity is on the 1/3 of the triangle base length. Thus WMA gravity center is shifted to the right with respect to the c
T3 indicator that is using floating levels as an aid to determine the trend transformed to be an oscillator instead of being displayed on chart
Since the indicator is an offsping of T3 floating levels indicator, major part of the description is the same and is going to be repeated here too (in order to avoid seeking for the other indicator)
Since the indicator is an offsping of T3 floating levels indicator, major part of the description is the same and is going to be repeated here too (in order to avoid seeking for the other indicator)