Ehlers Even Better Sinewave (EBSW)

// Licensed under the Apache License, Version 2.0
// © mihakralj
//@version=6
indicator("Ehlers Even Better Sinewave (EBSW)", "EBSW", overlay=false)

//@function Calculates Ehlers Even Better Sinewave using HPF, SSF, and AGC
//@param src Series to calculate EBSW from
//@param hpLength int Period for the High-Pass Filter
//@param ssfLength int Period for the Super Smoother Filter
//@returns single normalized sinewave value
//@optimized for performance and dirty data
ebsw(series float src, simple int hpLength, simple int ssfLength) =>
    if hpLength <= 0 or ssfLength <= 0
        runtime.error("Periods must be greater than 0")
    float pi = 2 * math.asin(1)
    float angle_hp = 2 * pi / hpLength
    float alpha1_hp = (1 - math.sin(angle_hp)) / math.cos(angle_hp)
    var float hp = 0.0
    hp := (0.5 * (1 + alpha1_hp) * (src - nz(src[1]))) + (alpha1_hp * nz(hp[1]))
    float angle_ssf = math.sqrt(2) * pi / ssfLength
    float alpha2_ssf = math.exp(-angle_ssf)
    float beta_ssf = 2 * alpha2_ssf * math.cos(angle_ssf)
    float c2 = beta_ssf, c3 = -alpha2_ssf * alpha2_ssf, c1 = 1 - c2 - c3
    var float filt = 0.0
    filt := c1 * ((hp + nz(hp[1])) / 2) + c2 * nz(filt[1]) + c3 * nz(filt[2])
    float waveVal = (filt + nz(filt[1]) + nz(filt[2])) / 3.0
    float pwr = (math.pow(filt, 2) + math.pow(nz(filt[1]), 2) + math.pow(nz(filt[2]), 2)) / 3.0
    float sineWave = pwr == 0 ? 0 : waveVal / math.sqrt(pwr)
    math.min(1, math.max(-1, sineWave))

// ---------- Main loop ----------

// Inputs
i_source = input.source(close, "Source")
i_hpLength = input.int(40, "High-Pass Filter Length", minval=1, tooltip="Period for detrending the price data.")
i_ssfLength = input.int(10, "Super Smoother Filter Length", minval=1, tooltip="Period for smoothing the cycle component.")

// Calculation
ebsw_wave = ebsw(i_source, i_hpLength, i_ssfLength)

// Plot
plot(ebsw_wave, "EBSW", color=color.yellow, linewidth=2)
hline(0, "Zero Line", color.gray, linestyle=hline.style_dashed)