John Ehlers - The Leading Indicator

[NPTechs]

Platform

1. Thinkorswim

# John Ehlers leading indicator https://ninjatraderecosystem.com/user-app-share-download/john-ehlers-the-leading-indicator/
# Converted to ToS - NPtechs

declare lower;
input Alpha1 = 0.25;
input Alpha2 = 0.33;
input PaintBars = Yes;

def Median = hl2;
def lb = 2 * Median + (Alpha1 - 2) * Median[1] + (1 - Alpha1) * lb[1];
def NetLead = Alpha2 * lb + (1 - Alpha2) * NetLead[1];
def Lema = 0.5 * Median + 0.5 * Lema[1];

plot pNetLead = NetLead;
pNetLead.AssignValueColor(if NetLead > Lema then COLOR.GREEN else COLOR.RED);

plot pLema = Lema;
pLema.AssignValueColor(CreateColor(33,150,243));


AssignPriceColor (if !PaintBars then Color.CURRENT else 
   if NetLead > Lema then Color.GREEN 
   else Color.RED);