Hurst oscillator. Two indicators: Hurst oscillator and Hurst bands are described in Jim Hurst's "The Magic of Stock Transaction Timing" book

The indicator has two input parameters:

  • Period - calculation period
  • Smoothing - smoothing period

Calculation:

HO = MA - CMA[Period/2-1]

where: 

CMA = SMA(PRICE_MEDIAN, Period)
MA  = SMA(FlowValue, Smoothing)

  • If Close > PrevClose

    FlowValue = High

  • If Close < PrevClose

    FlowValue = Low

  • If Close == PrevClose

    FlowValue = (High+Low)/2

Fig. 1. Hurst oscillator

Fig. 2. Hurst oscillator and Hurst bands