Auto-Calc Bar Offset? |
If checked, the indicator will automatically determine the best offset to use for the cycle analysis. If not checked then you must input your own offset into the Manual Bar Offset setting. Default value is checked.
As discussed in the Overview section, the purpose of the Offset is to give you an out-of-sample period in which to validate the reported cycle activity....basically to ensure that the reported cycles are still in play. While you certainly can use an offset of 0, you will have no out-of-sample period in which to compare the cycles to what actually transpired in the price action.
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Pivot Size |
This is the pivot size (bars before and bars after) to use in the Auto-Calc logic above to find a recent pivot to use as the Bar Offset. Typically a value between 10 and 20 should work the best. We want to identify the nearest intermediate/major swing but, by the same token, we don't want an out-of-sample period that is too large. Default value is 10 and the range is from 2 to 30 bars.
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Manual Bar Offset |
Only used if Auto-Calc Bar Offset above is unchecked. Input the number bars to offset the cycle analysis. Note that if you use a Manual Bar Offset, the offset will shift accordingly as new bars come in (i.e., to maintain the selected bar offset). To maintain the position of the offset as new bars come in, be sure to check the Fixed Offset option (below). Range is from 0 to 300 bars. Default value is 0.
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----Fixed Offset |
If Manual Bar Offset is being used, this option will keep the offset at whatever bar was selected as new bars come in. So if 10 was initially selected as the Manual Offset, the offset would be 11 when the next bar comes in, and 12 when the bar after that comes in, etc. Default value is false.
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Window Size |
Select the window size (i.e., the size of the data segment, in bars) that will be used for the cycle analysis. You can choose from 128, 256, and 512. The default value is 256.
Typically you will want to leave this at the 256 setting. If the chart is extremely noisy or if there is/was an obvious change in the recent price action then you might want to try the 128 setting. On the other hand, if price is visibly showing very little short-term cyclical activity and is either flat or in a trend, then you will get better results with the 512 setting.
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Price Source |
Select the price source (i.e., open, high, low, close, hl2, hlc3, ohlc4) to use for the cycle analysis. The default is hl2.
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Amplitude Filter |
The amplitude filter allows you to filter out weaker cycles in the cycle analysis. The normalized amplitude of the cycles will range from 0 to 1.0 and you can select any amplitude in that range and any cycles with a lower relative amplitude will be ignored.
For the larger window sizes (i.e., 256 and 512) this setting will likely not be important. But when using the smaller 128 window size it can help eliminate noise from the cycle analysis.
Range is from 0 to 1.0 and the default value is 0.
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Upper Cycle Limit |
This option, along with the Lower Cycle Limit option, allows you to restrict your cycle analysis to a range of cycle periods. Typically you will want to keep your Upper Cycle Limit at a value that is at or below 1/2 of the selected Window Size. So if using the 512 window size you would want to keep your Upper Cycle Limit at or below 256. Note that the cycle analysis is actually performed in 1/4-cycle increments to increase the granularity. The range is from 2 to 300 and the default value is 200.
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Lower Cycle Limit |
This option, along with the Upper Cycle Limit option, allows you to restrict your cycle analysis to a range of cycle periods. When using the smaller 128 window size, you may want to increase the Lower Cycle Limit to 10 or 15 to filter out some of the noise. Note that the cycle analysis is actually performed in 1/4-cycle increments to increase the granularity. The range is from 2 to 300 and the default value is 5.
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Cycle Plot Extension |
This represents the number of bars by which the composite should be extended into the future. Range is from 0 to 50 bars. Default value is 20.
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In-Sample Color |
Select the plot color to use for the composite plot in the In-Sample period. Default value is blue.
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Out-of-Sample Color |
Select the plot color to use for the composite plot in the Out-of-Sample period. Default value is maroon.
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Bar Offset Color |
Select the color to use when drawing the vertical line at the Bar Offset location. Default value is silver.
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