From https://nexusfi.com/elite-circle/2601-wavelet-indicator.html
This is a linear undecimated Haar transform implemented via lifting.
I had intended on posting this indicator here a while back but at the time I was getting swamped with questions about the particle oscillator and I didn't want to add fuel to the fire considering that this indicator is significantly more complicated with a large number of options and different ways it could be used.
I made two annotated screenshots that explain the basic options and some background on wavelets. The third screenshot shows a time decomposition as well as another colorscheme.
I don't mind fielding questions about this indicator or wavelets in general but please try and ask good questions, ie not 'what settings do i use for intstrument xx'
While this indicator can be used 'as is'.. I would still encourage any who are interested in wavelets to read up on the theory behind them and how to construct other wavelet transforms via lifting. The more you understand wavelets the more useful they will be for you. A good place to start learning about more advanced techniques would be to research nonlinear transforms commonly used for 'edge detection'.
Category The Elite Circle
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