Hilbert Transform Indicator
The Hilbert Transform Indicator was authored by John Ehlers. The Hilbert Transform itself, is an all-pass filter used in digital signal processing. By using present and prior price differences, and some feedback, price values are split into their complex number components of real (inPhase) and imaginary (quadrature) parts. The user may change the input (midpoint), and period length. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using the Hilbert Transform Indicator
The Hilbert Transform Indicator may be used in conjuction with other indicators. No trading signals are calculated in this study.
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//input = price, user defined, default is midpoint price
//period = user defined, default is 7
//quad = quadrature = imaginary part of complex number
//inPhase = real part of complex number
//index = current bar number
iMult = .635; qMult = .338; priorPrice = price[index-period]; //v1 = Detrend price v1 = price - priorPrice; v2 = v1[index-2]); v4 = v1[index-4]; inPhase3 = inPhase[index-3]; quad2 = quad[index-2]; //Hilbert transform complex number components, inPhase (real part), quad (imaginary part) inPhase = 1.25 * (v4 - (iMult*v2) + (iMult*inPhase3)); quad = v2 - (qMult*v1) + (qMult*quad2); Plot1: inPhase; Plot2: quad;