Here we have a variation of super smoother (originally published here : Super smoother) that is using its own past values as a criteria for filtering out some false signals.
Usage :
Since the indicator is not using slope as a criteria for color change, color change to gray can be used as a warning sign of a possible reversal, while the change to “active” color can be used as a signal for entry or re-entry
Super smoother - indicator MetaTrader 5 Definition : John Ehlers’ “Super Smoother”, a 2-pole Butterworth filter combined with a 2-bar SMA that suppresses the Nyquist frequency…
