The Adaptive Laguerre Filter calculates a smoothed, dynamically adjusted trendline plotted directly on the main price chart. It dynamically adjusts its damping factor (alpha) based on recent price range variations and median percentile calculations over a spec
Indicator · Pine Script v4 · On the chart
Holt’s Damped Linear Trend Forecasting
This indicator implements Gardner and McKenzie's damped linear trend forecasting model directly on the price chart.
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code57
Settings5inputs
LicenceNone stated
Last update1 year ago7 Nov 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Holt’s Damped Linear Trend Forecasting calculates smoothed level and trend components using exponential smoothing parameters and applies a damping factor to flatten long-term projections. The script draws a forward-projecting line from the current bar's close into future periods based on the calculated forecast value. Users can adjust the smoothing parameters alpha and beta, the damping factor phi, and the number of projection periods.
- Holt's damped linear trend calculation
- Configurable alpha and beta smoothing parameters
- Adjustable damping factor to prevent over-forecasting
- Forward-projecting chart trendline into future periods
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
On the price 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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Price Data | source | close | price |
| Slope (alpha) | float | 0.4 | alpha |
| Intercept (beta) | float | 0.75 | beta |
| Dampening Factor (best=0.80-0.98) | float | 0.8 | phi |
| Forecasted Periods | int | 6 | per |
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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