Hurst oscillator. Two indicators: Hurst oscillator and Hurst bands are described in Jim Hurst's "The Magic of Stock Transaction Timing" book
The indicator has two input parameters:
- Period - calculation period
- Smoothing - smoothing period
Calculation:
HO = MA - CMA[Period/2-1]
where:
CMA = SMA(PRICE_MEDIAN, Period) MA = SMA(FlowValue, Smoothing)
- If Close > PrevClose
FlowValue = High
- If Close < PrevClose
FlowValue = Low
- If Close == PrevClose
FlowValue = (High+Low)/2
Fig. 1. Hurst oscillator
Fig. 2. Hurst oscillator and Hurst bands
