HilbertOscillator
Background
The Hilbert oscillator is John Ehlers' cycle-based oscillator (from Rocket Science for Traders). It recovers the in-phase and quadrature components of the market's cycle and turns them into a smooth oscillator that you can read like an RSI or stochastic — but because it is matched to the measured dominant cycle, it leads those conventional oscillators and stays in step with the market's actual rhythm.
The function produces two curves: a lead line and a lag line. They swing together with the cycle, and the crossing of the lead over the lag (and back) marks the turning points of the cycle — a clean, low-lag timing signal in cyclic markets. Because this version is engine-aware, you can pick which estimator measures the cycle; see Cycle Engines.
Included formula
The toolbox ships a ready-made Hilbert Oscillator indicator, so you can use it without writing any code. In AmiBroker open the Charts window, expand the WiseTraderToolbox group and drag Hilbert Oscillator onto a chart.
It plots the lead line, with the lag line as an option, in its own pane; the crossing of the lead over the lag marks the cycle's turning points. The colours are set from the indicator's parameters, and the engine that measures the cycle can be chosen there too — see Cycle Engines.
The exported function
If you would rather build your own formula, the toolbox exports the calculation as a single AFL function you can call directly — it is the engine inside that indicator.
HilbertOscillator(Engine = 0, Alpha = 0.07)
| Parameter | Description |
|---|---|
| Engine | Optional. Which cycle estimator to use: 0 Homodyne
(default), 1 Ehlers alpha, 2 Autocorrelation/Mesa,
3 Burg, 4 Kalman, 5 Multitaper. Defaults
to 0. See Cycle Engines. |
| Alpha | Optional. Smoothing constant used only by engine 1.
Must be greater than 0. Defaults to 0.07; ignored by every other
engine. |
The oscillator is computed on the average of the current symbol's High and Low, so you
do not pass a price array. It does not return an array directly — instead it writes two
AFL variables: HilbertLead_Array (the lead line) and
HilbertLag_Array (the lag line).
Usage
HilbertOscillator(); // engine 0 (Homodyne) by default
lead = HilbertLead_Array;
lag = HilbertLag_Array;
Plot( lead, "Hilbert Lead", colorRed );
Plot( lag, "Hilbert Lag", colorBlue );
// Turning-point signals
Buy = Cross( lead, lag );
Sell = Cross( lag, lead );An Engine outside 0–5, or Alpha of 0 or less with
engine 1, leaves the output variables empty. Spectral engines (2–5) need a long
warm-up before producing values.