The Ehlers Filter can be easily implemented in the NeuroShell Trader by combining a few of the over 800 built in indicators. We’ve done this for you already and have created custom indicators that you can download from the NeuroShell Trader free technical support website.
However, we wanted to show you how easy it is to implement Ehlers Filter in NeuroShell Trader. To do this select ‘New Indicator …’ from the ‘Insert’ menu and follow the steps below:
1. Select the Volume Weighted Moving Average from the Volume Weighted Moving Average Category.
2. Change the Time Series and the Volume variables to the values that you want to use.
What you should end up with is something that looks like this:
VolWgtMovAvg(X, Y, 5)
Where X = the Time Series that you want to Filter
(Ehlers uses (High+Low)/2 or the Average2(High, Low))
and Y = the Coefficients that you want to use
(as Ehler points out Coefficients can be computed using any statistic of choice)
In Ehler’s first example he sets:
X = Average2(High, Low)
Y = Absolute Value(Momentum(Average2(High,Low), 5)
File Download