The Recursive Median Filter combines a median percentile calculation with a lowpass exponential filter to smooth price action directly on the main price 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
26 lines of Pine Script v4 from movings/recursive_median_filter.pine, published under GPL-3.0. Keep the author's credit and licence lines when you reuse it.
recursive_median_filter.pine
//@version=4
// Copyright (c) 2018-present, Alex Orekhov (everget)
// Recursive Median Filter script may be freely distributed under the terms of the GPL-3.0 license.
study("Recursive Median Filter", shorttitle="RMF", overlay=true)
medianLength = input(title="Median Length", type=input.integer, defval=5, minval=1)
lowpassLength = input(title="Lowpass Length", type=input.integer, defval=12, minval=1)
src = input(title="Source", type=input.source, defval=close)
highlight = input(title="Highlight ?", type=input.bool, defval=true)
_median(src, length) =>
percentile_nearest_rank(src, length, 50)
PI = 2 * asin(1)
alphaArg = 2 * PI / lowpassLength
cos = cos(alphaArg)
alpha = 0.0
alpha := cos != 0 ? (cos + sin(alphaArg) - 1) / cos : nz(alpha[1])
rmf = 0.0
rmf := alpha * _median(src, medianLength) + (1 - alpha) * nz(rmf[1])
rmfColor = highlight ? rmf > rmf[1] ? color.green : color.red : #6d1e7f
plot(rmf, title="RMF", linewidth=2, color=rmfColor, transp=0)
Overview
Recursive Median Filter calculates the median source value across a specified median length and recursively blends it using a lowpass alpha coefficient derived from the lowpass length input. The indicator plots a single line over price bars, with optional color highlighting that shifts between green and red to indicate rising or falling values.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Median Length
int
5
medianLength
Lowpass Length
int
12
lowpassLength
Source
source
close
src
Highlight ?
bool
true
highlight
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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