Super Smoother
Overview
The Super Smoother uses a special mathematical process for the smoothing of data points.
The Super Smoother is a technical analysis indicator designed to be smoother and with less lag than a traditional moving average.
Often, the smoother the indicator, the easier it is to make good decisions, and the Super Smoother tool helps to smooth price changes and indicators.
Many indicators and similar tools of technical analysis face the dilemma of being either too slow to react to price changes or wiggling too much to make useful conclusions. Where those conclusions depend on the gradient of an indicator, wiggle is a particular problem. Adjusting an indicator to combat wiggle causes other problems. Increasing the length of, say, a moving average results in lag. The answer to lag is to reduce the length of the moving average, but that in turn produces wiggle!
Developers of technical analysis tools find themselves caught in the position of wanting to see a more rapid response to price changes, but without the associated wiggle or lag. While the Super Smoother tool is not a total solution to the problem, it can help resolve this dilemma.
Most trading indicators can be reformulated with the Super Smoother tool to help smooth them.
To add the tool to your chart, select the tool from the Ehlers tool group, and left-click on the chart to add the tool. Optuma will then draw the tool on top of the chart.
Scripting Function: EHLSS()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Super Smoother tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Super Smoother tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Super Smoother to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Band Edge: Coming soon
Plot Style: Allows you to adjust the display style for the tool. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
Line Style: When the Plot Style is set to Line, Histogram, Step, or Shaded Step, this property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to adjust the width of the line for the tool. Moving the slider bar to the right increases the thickness of the line.
Colour Scheme: Allows you to choose between the following colour schemes for the tool: Copy Colours from Price Chart, Single Colour, Positive / Negative, Custom.
Line Colour: When the Colour Scheme is set to Single Colour, this property allows you to adjust the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Positive: When the Colour Scheme is set to Positive/Negative, this property allows you to adjust the colour of the tool when it is above the Positive / Negative Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Negative: When the Colour Scheme is set to Positive / Negative, this property allows you to adjust the colour of the tool when it is below the Positive / Negative Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Positive / Negative Barrier: When the Colour Scheme is set to Positive / Negative, this property allows you to adjust the barrier value. The default value is 0.00.
Custom Colour Scripts: When the Colour Scheme is set to Custom, this property allows you to set the colour of the tool according to your scripts. For more information on this, please click here. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Up / Down Barrier: When the Plot Style is set to Shaded, this property allows you to adjust the barrier value. The default value is 0.00.
Fill Up Colour: When the Plot Style is set to Shaded, this property allows you to adjust the fill colour of the tool when it is above the Fill Up / Down Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Down Colour: When the Plot Style is set to Shaded, this property allows you to adjust the fill colour of the tool when it is below the Fill Up / Down Barrier. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Fill Transparency: When the Plot Style is set to Shaded, use this slider bar to adjust the transparency of the filled portion of the tool. Moving the slider to the left will increase the transparency.
Equilibrium Line Style: This option expands to display the following:
- Line Style - When the Plot Style is set to Line, Histogram, Step, or Shaded Step, this property allows you to adjust the type of line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width - Allows you to adjust the width of the line for the tool. Moving the slider bar to the right increases the thickness of the line. - Line Colour - Allows you to adjust the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
- Tool Transparency - Use this slider bar to adjust the transparency of the line. Moving the slider to the left will increase the transparency of the line.
- Visible - Un-tick this checkbox to hide the line from the chart.
Offset: Moves the tool forward or backward in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show In Price Scale: When selected, the current Super Smoother value will be displayed in the Price Scale.