This indicator plots the Schaff Trend Cycle in a separate pane. It subtracts a slow exponential moving average from a fast one, applies a stochastic cycle twice, and smooths each result to form a 0–100 oscillator. Line color follows the slope, or the upper and
Indicator · Pine Script v6 · Own pane
Hodrick-Prescott Filter (HP)
This indicator calculates a causal approximation of the Hodrick-Prescott filter.
GitHub stars99on the repository
Pine versionv6current
Lines of code36
Settings2inputs
LicenceApache-2.0
Last update4 weeks ago27 Sep 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
36 lines of Pine Script v6 from lib/filters/hp/hp.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
// Licensed under the Apache License, Version 2.0
// © mihakralj
//@version=6
indicator("Hodrick-Prescott Filter (HP)", "HP", overlay=false)
//@function Calculates a causal approximation of the Hodrick-Prescott Filter trend component
//@param src Input series
//@param lambda Smoothing parameter (lambda)
//@returns HP Filter trend component series
//@optimized Uses causal HP approximation with O(1) complexity per bar
hp(series float src, simple float lambda) =>
if lambda <= 0.0
runtime.error("Lambda must be positive")
float alpha = (math.sqrt(lambda) * 0.5 - 1.0) / (math.sqrt(lambda) * 0.5 + 1.0)
alpha := math.max(alpha, 0.0001)
alpha := math.min(alpha, 0.9999)
float price = nz(src, 0.0)
var float hp_trend = na
float prev_trend = nz(hp_trend[1], price)
float prev_price = nz(src[1], price)
hp_trend := bar_index >= 1 ? (1.0 - alpha) * price + alpha * prev_trend + 0.5 * alpha * (prev_trend - nz(hp_trend[2], prev_trend)) : price
hp_trend
// ---------- Main loop ----------
// Inputs
i_source = input.source(close, "Source")
i_lambda = input.float(677.0, "Lambda (Smoothing)", minval=0.1, step=10.0)
// Calculation
hp_trend_val = hp(i_source, i_lambda)
hp_cycle_val = i_source - hp_trend_val
// Plot
plot(hp_trend_val, "HP Trend", color=color.yellow, linewidth=2, force_overlay=true)
plot(hp_cycle_val, "HP Cycle", color=color.blue, linewidth=2, force_overlay=false)
Overview
Hodrick-Prescott Filter (HP) plots a smoothed trend of the selected source and a cycle equal to the source minus that trend. Lambda controls smoothing; the source defaults to close. The trend is drawn on the price chart and the cycle in a separate pane. Lambda must stay positive. It does not generate trade entries or exits.
- Causal Hodrick-Prescott trend
- Cycle residual of the source
- Lambda smoothing parameter
- Selectable price source
- Constant-time update per bar
Details
Published by
mihakralj on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
algorithmic-tradingcsharpdotnetpinescriptpythonquantitative-financesimdta-libtechnical-analysistechnical-indicators
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source | source | close | i_source |
| Lambda (Smoothing) | float | 677.0 | i_lambda |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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