Coral Filter

Coral Filter indicator bundled with all algo purchases
Coral Filter
The Coral Filter is a linear combination of moving averages, all obtained by a triple or higher order exponential smoothing. The indicator comes with a trend indication which is based on the normalized slope of the plot. The current trend is displayed as paint bars; up, down or flat. By adjusting the neutral threshold parameter, one may define the range of slopes that will render a flat trend.  Therefore, with a neutral threshold parameter of 0, the neutral state will be eliminated and the indicator will only plot up or down trends. The Coral Filter is mainly used as a trend filter. When prices move above the filter, short positions are blocked and vice versa. This basic approach may be refined by further considering the normalized slope. If the slope trend is up, it’s long only, whereas a slope trend which is down is short only. If the slope is flat, both long and short scenarios are considered.

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