baguette by multigrain

Rationale
The rationale behind this indicator is that: when the price of an asset reaches an extreme, regardless of the trend, there is a (maybe not equal but) opposite reaction.

Settings
The default settings will not be the best for whatever timeframe you choose. I personally believe a longer than 'normal' JMA Length is best.

• JMA Source: The source in which the Jurik Moving Average calculations are based off of.
  
• JMA Length: Controls the length of the Jurik Moving Average.
  
• JMA Phase: A lag controller of sorts. Increasing the phase increases overshoots but reduces lag, decreasing the phase decreases overshoots but increases lag.
  
  
• ATR Length: The length in which an average true range value will be calculated with.
  
• ATR Multiplier: This multiplier controls the 'width' of our envelope or our extreme bands.
  

Credits

• @gorx1 for the improved and more accurate (?) Jurik Moving Average calculations.
  
• @redktrader for the ATR envelope calculations.
  

Versionshinweise:

• included alerts for long and short indications.
  

Versionshinweise:

• realigned input code.