EFS for Trading Success
EFS Featured Studies of the Month:
Day of Week Average and Detrended Price Oscillator
The EFS library is full of new and useful strategies you can use for free in eSignal.
This month, we feature a study that plots the moving average of a specific day of the week that you choose and a study that identifies cycles by filtering out trends.
Day of Week Average
This indicator plots the Moving Average of a specified price of a user-specified day of the week. The study also plots a dot on the day of the week that is being averaged. This indicator is one of the best for measuring the price change, depending on the day of the week.
Download the Day of Week Average EFS study
Detrended Price Oscillator
This indicator is similar to a moving average, in that it filters out trends in prices to more easily identify cycles. The indicator is an attempt to define cycles in a trend by drawing a moving average as a horizontal straight line and placing prices along the line according to their relation to a moving average. It provides a means of identifying underlying cycles not apparent when the moving average is viewed within a price chart. The oscillator effectively filters or removes cycles of a longer duration than the length (number of bars used to calculate the Detrend Price Osc).
Download the Detrended Price Oscillator EFS study
Resources for EFS
- To access other EFS studies, visit the EFS Library (wait a few seconds for the Most Popular Articles listing to appear).
- For detailed tutorials on EFS, including how to implement EFS studies within eSignal, visit the Help Guides and Tutorials section of the EFS KnowledgeBase.
