indicator · on price · open source
Ehlers Reflex
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About
Ehlers Reflex — the smoothed distance from the recent highest close. Highlights reflexive bounces off the rolling peak.
- Drops below 0 = price lost the rolling peak; recovers above 0 = new high.
- Trend filter when stacked with a 200-bar MA.
Source code
//@version=5
indicator("Ehlers Reflex", overlay=true)
len = input.int(20, "Length", minval=5, maxval=100)
src = close
reflex = ta.rma(src - ta.highest(close, len), len)
hline(0, "Zero", color=color.gray)
p_Reflex = plot(reflex, "Reflex", color=color.teal, linewidth=2)
alertcondition(ta.crossover(reflex, 0), "Reflex up", "Reflex crossed above zero")
alertcondition(ta.crossunder(reflex, 0), "Reflex down", "Reflex crossed below zero")
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