Hey Chad,
Is there a way to use a V# variable as the Period for the BandPass Filter?
I notice some indicators have a V# as an option in the drop down menus for Period (e.g. Moving Averages and Fisher Transform) and others don't like the Empirical Mode Decomposition, which the BandPass is a part of. There's probably a good reason for that. Is there a work around?
I want to use the output of another indicator in IRT as the Period for the BandPass.
Thanks for any help!
Eric
Can you refresh my memory on what the "BandPass" Indicator is?
The BandPass is an oscillator.
The BandPass output is in the frequency domain. Think in terms of frequencies, amplitudes, and cycles.
The goal of the indicator is to de-trend and smooth your data, without introducing lag.
The BandPass does this by filtering out unwanted components of your data. It filters out the low and high frequency components. Think of "low frequency" as slow-moving trends and "high frequency" as random/noise.
After filtering the unwanted components, the indicator "passes" the remaining components through a "band" -- or range of desired frequencies.
In IRT, you can control this band with delta. The default delta in IRT is 0.5.
Bigger delta = more data passing through; lower delta = narrower/more focused data passing through.
For example, a Period of 20 and delta of 0.5 will pass data between about 10 and 30 bars. A delta of 0.1 and Period of 20 would pass data between about 18 and 22 bars.
You might think of it like an old school radio. In between the stations playing your favorite songs is a lot of static/noise. Plus, there's lots of stations that play really crappy music. But if you tune the dial just right, and find the right frequency, you get your signal like your favorite song -- or a timely and crystal clear buy/sell signal in the NQ. :-)
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I want to make the Period of the BandPass dynamic and base the Period on a V# variable.
Thanks for your help, Chad. Let me know if you need more info.
Is this a Custom Indicator? Or an RTX Indicator that I'm not familiar with? Investor/RT does not have an indicator called BandPass that I'm aware of. Above you described this indicator, but you did not tell me the source of this indicator in Investor/RT? Can you share a chart definition with BandPass?
The BandPass filter is part of Empirical Mode Decomposition
OK. So just need to be able to specify the Period parameter of EMD as a V# or C#, correct?
Yes!
I need to specify a V# variable as the Period of EMD.
Thanks again for your help!
OK. This is done in 13.5.16 which is now available.
Rock and roll. Thank you so much!