Boom Hunter Pro Oscillator

The Boom Hunter indicator is an advanced tool designed to detect potential entry and exit points in the market using three customized oscillators (EOT). This indicator combines multiple filtering and smoothing techniques to provide precise signals based on price behavior.

Indicator Components

Boom Hunter comprises several input parameters that allow users to adjust the indicator’s behavior according to their needs:

squared: Activates or deactivates the use of squared lines.
showfib: Displays Fibonacci levels on the chart.
Parameters for the EOT oscillators (lpperiod, k1, k2, esize, ey, trigno): Adjust the properties of each oscillator.

The three oscillators (EOT 1, EOT 2, and EOT 3) have specific parameters controlling their calculation period, smoothing factors, and size.

Fibonacci Levels

Fibonacci levels are a crucial part of the indicator, providing visual references on the chart that can help identify potential support and resistance zones:

if showfib then
  DRAWHLINE(84) coloured(33, 150, 243,50) style(dottedline)
  DRAWHLINE(64) coloured(33, 150, 243,50) style(dottedline)
  DRAWHLINE(50) coloured(33, 150, 243,50) style(dottedline)
  DRAWHLINE(36) coloured(33, 150, 243,50) style(dottedline)
  DRAWHLINE(18) coloured(33, 150, 243,50) style(dottedline)
endif

if showfib then

DRAWHLINE(84) coloured(33, 150, 243,50) style(dottedline)

DRAWHLINE(64) coloured(33, 150, 243,50) style(dottedline)

DRAWHLINE(50) coloured(33, 150, 243,50) style(dottedline)

DRAWHLINE(36) coloured(33, 150, 243,50) style(dottedline)

DRAWHLINE(18) coloured(33, 150, 243,50) style(dottedline)

endif

These levels are drawn on the chart if the showfib option is activated.

Filter and Supersmoother Algorithm

The indicator uses a highpass filter to remove cyclic components with periods shorter than 100 bars. It then applies a supersmoother filter to smooth the data:

alpha1 = (cos(0.707*2*pi/100)+sin(0.707*2*pi/100)-1)/cos(0.707*2*pi/100)
hp = (1-alpha1/2)*(1-alpha1/2)*(close-2*close[1]+close[2])+2*(1-alpha1)*hp[1]-(1-alpha1)*(1-alpha1)*hp[2]

a1 = exp(-1.414*3.1416/lpperiod)
b1 = 2*a1*cos(1.414*pi/lpperiod)
c2 = b1
c3 = -a1*a1
c1 = 1-c2-c3
filt = c1*(hp+hp[1])/2+c2*filt[1]+c3[filt2]

alpha1 = (cos(0.707*2*pi/100)+sin(0.707*2*pi/100)-1)/cos(0.707*2*pi/100)

hp = (1-alpha1/2)*(1-alpha1/2)*(close-2*close[1]+close[2])+2*(1-alpha1)*hp[1]-(1-alpha1)*(1-alpha1)*hp[2]

a1 = exp(-1.414*3.1416/lpperiod)

b1 = 2*a1*cos(1.414*pi/lpperiod)

c2 = b1

c3 = -a1*a1

c1 = 1-c2-c3

filt = c1*(hp+hp[1])/2+c2*filt[1]+c3[filt2]

Fast Attack and Slow Decay Algorithm

This algorithm is used to adjust the indicator to market peaks by normalizing the roofing filter:

peak = 0.991*peak[1]
if abs(filt) > peak then
  peak = abs(filt)
endif

if peak <> 0 then
  x = filt / peak
endif

Quotient1 = (x + k1) / (k1 * x + 1)
Quotient2 = (x + k2) / (k2 * x + 1)

peak = 0.991*peak[1]

if abs(filt) > peak then

peak = abs(filt)

endif

if peak <> 0 then

x = filt / peak

endif

Quotient1 = (x + k1) / (k1 * x + 1)

Quotient2 = (x + k2) / (k2 * x + 1)

EOT Oscillator 1

EOT 1 is the most precise of the three oscillators. It uses a highpass filter and a supersmoother filter, then normalizes the data and applies a fast attack and slow decay algorithm to identify market peaks.

Highpass Filter Calculation: The highpass filter removes cyclic components with periods shorter than 100 bars. This is done using the formula:

Supersmoother Filter Calculation: The supersmoother filter smooths the data using the following formula:

a1 = exp(-1.414*3.1416/lpperiod)
b1 = 2*a1*cos(1.414*pi/lpperiod)
c2 = b1
c3 = -a1*a1
c1 = 1-c2-c3

a1 = exp(-1.414*3.1416/lpperiod)

b1 = 2*a1*cos(1.414*pi/lpperiod)

c2 = b1

c3 = -a1*a1

c1 = 1-c2-c3

The result of the supersmoother filter is:

filt = c1*(hp+hp[1])/2+c2*filt[1]+c3*filt[2]

1	filt = c1(hp+hp[1])/2+c2filt[1]+c3*filt[2]

Fast Attack and Slow Decay Algorithm:

peak = 0.991*peak[1]
if abs(filt)>peak then
peak=abs(filt)
else
peak=peak
endif

peak = 0.991*peak[1]

if abs(filt)>peak then

peak=abs(filt)

else

peak=peak

endif

Roofing Filter Normalization:

if peak<>0 then
x=filt/peak
else
x=x
endif

if peak<>0 then

x=filt/peak

else

x=x

endif

Quotient Calculation:

Quotient1 = (x+k1)/(k1*x+1)
Quotient2 = (x+k2)/(k2*x+1)

1 2	Quotient1 = (x+k1)/(k1x+1) Quotient2 = (x+k2)/(k2x+1)

EOT Oscillator 2 and EOT Oscillator 3

EOT 2 is very interesting for analyzing the distance between its two lines. When the lines expand, it indicates a sideways market.

EOT 3 marks extremes, indicating overbought or oversold conditions.

Complete Indicator Code

Below is the complete code for the Boom Hunter indicator in ProBuilder language:

//----------------------------------------------------------//
//PRC_Boom Hunter Pro
//version = 0
//22.07.2024
//Iván González @ www.prorealcode.com
//Sharing ProRealTime knowledge
//----------------------------------------------------------//
//-----Inputs-----------------------------------------------//
squared = 1 //Square line
showfib = 1 //show fibonacci
//---EOT 1 Main Oscilator
lpperiod = 6 //Quotient
k1 = 0.00// K1
k2 = 0.3
esize = 60 // Size
ey = 50 //Y axis
trigno = 2 //trigger length
//---EOT 2
lpperiod2 = 27 //
k12 = 0.8
k22 = 0.3
esize2 = 60
ey2 = 50
//---EOT 3
lpperiod3 = 11 //
k13 = 0.99
k33 = k13*(-1)
esize3 = 60
ey3 = 50
if squared then
k13 = 0.9999
k33 = -0.9999
endif
//----------------------------------------------------------//
//-----Fibonacci Levels-------------------------------------//
if showfib then
DRAWHLINE(84) coloured(33, 150, 243,50)style(dottedline)
DRAWHLINE(64) coloured(33, 150, 243,50)style(dottedline)
DRAWHLINE(50) coloured(33, 150, 243,50)style(dottedline)
DRAWHLINE(36) coloured(33, 150, 243,50)style(dottedline)
DRAWHLINE(18) coloured(33, 150, 243,50)style(dottedline)
endif
//----------------------------------------------------------//
pi = 180
//-----EOT 1------------------------------------------------//
if barindex > 2 then
//highpass filter cyclic components
//whose periods are shorter than 100 bars
alpha1 = (cos(0.707*2*pi/100)+sin(0.707*2*pi/100)-1)/cos(0.707*2*pi/100)
hp = (1-alpha1/2)*(1-alpha1/2)*(close-2*close[1]+close[2])+2*(1-alpha1)*hp[1]-(1-alpha1)*(1-alpha1)*hp[2]
//supersmoother filter
a1 = exp(-1.414*3.1416/lpperiod)
b1 = 2*a1*cos(1.414*pi/lpperiod)
c2 = b1
c3 = -a1*a1
c1 = 1-c2-c3
filt = c1*(hp+hp[1])/2+c2*filt[1]+c3*filt[2]
//fast attack-slow decay algorithm
peak = 0.991*peak[1]
if abs(filt)>peak then
peak=abs(filt)
else
peak=peak
endif
//normalizad roffing filter
if peak<>0 then
x=filt/peak
else
x=x
endif
Quotient1 = (x+k1)/(k1*x+1)
Quotient2 = (x+k2)/(k2*x+1)
endif
//----------------------------------------------------------//
//-----EOT 2------------------------------------------------//
IF BARINDEX>2 THEN
alpha1222 = (cos(.707 * 2 * pi / 100) + sin(.707 * 2 * pi / 100) - 1) / cos(.707 * 2 * pi / 100)
HP2 = (1 - alpha1222 / 2) * (1 - alpha1222 / 2) * (close - 2 * close[1] + close[2]) + 2 * (1 - alpha1222) * HP2[1] - (1 - alpha1222) * (1 - alpha1222) * HP2[2]
//----------------------------------------------------------//
//SuperSmoother Filter
a12 = EXP(-1.414 * 3.1416 / LPPeriod2)
b12 = 2 * a12 * cos(1.414 * pi / LPPeriod2)
c22 = b12
c32 = -a12 * a12
c12 = 1 - c22 - c32
Filt2 = c12 * (HP2 + HP2[1]) / 2 + c22 * Filt2[1] + c32 * Filt2[2]
//Fast Attack - Slow Decay Algorithm
Peak2 = .991 * Peak2[1]
if abs(Filt2) > Peak2 then
Peak2 = abs(Filt2)
else
Peak2 = peak2
endif
//Normalized Roofing Filter
if Peak2 <> 0 then
X2 = Filt2 / Peak2
else
X2 = X2
endif
Quotient3 = (X2 + K12) / (K12 * X2 + 1)
Quotient4 = (X2 + K22) / (K22 * X2 + 1)
endif
//----------------------------------------------------------//
//-----EOT 3------------------------------------------------//
if barindex > 2 then
alpha1333 = (cos(.707 * 2 * pi / 100) + sin(.707 * 2 * pi / 100) - 1) / cos(.707 * 2 * pi / 100)
HP3 = (1 - alpha1333 / 3) * (1 - alpha1333 / 2) * (close - 2 * close[1] + close[2]) + 2 * (1 - alpha1333) * HP3[1] - (1 - alpha1333) * (1 - alpha1333) * HP3[2]

//SuperSmoother Filter
a13 = exp(-1.414 * 3.1416 / LPPeriod3)
b13 = 2 * a13 * cos(1.414 * pi / LPPeriod3)
c33 = b13
c333 = -a13 * a13
c13 = 1 - c33 - c333
Filt3 = c13 * (HP3 + HP3[1]) / 2 + c33 * Filt3[1] + c333 * Filt3[2]

//Fast Attack - Slow Decay Algorithm
Peak3 = .991 * Peak3[1]
if abs(Filt3) > Peak3 then
Peak3 = abs(Filt3)
else
Peak3 = peak3
endif

//Normalized Roofing Filter
if Peak3 <> 0 then
X3 = Filt3 / Peak3
else
X3 = peak3
endif

Quotient5 = (X3 + K13) / (K13 * X3 + 1)
Quotient6 = (X3 + K33) / (K33 * X3 + 1)

line1 = -0.9
endif
//----------------------------------------------------------//
//-----Plot EOTs--------------------------------------------//
//---EOT1
q1 = Quotient1 * esize + ey
q2 = Quotient2 * esize + ey
trigger = average[trigno](q1)
//---EOT2
q3 = Quotient3 * esize + ey
q4 = Quotient4 * esize + ey
colorbetween(q3,q4,255,178,105,200)
//---EOT3
q5 = Quotient5 * esize2 + ey2
q6 = Quotient6 * esize2 + ey2
//----------------------------------------------------------//
return q1 as "oscillator"coloured(102,255,255)style(line,2), trigger as "Trigger"coloured(224,224,224)style(line,2),q3 as "Q3"coloured("red",50), q4 as "Q4"coloured("red",50), Q5 as"q5" coloured("YELLOW") , Q6 as "q6" coloured(255,51,153)

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//----------------------------------------------------------//

//PRC_Boom Hunter Pro

//version = 0

//22.07.2024

//Iván González @ www.prorealcode.com

//Sharing ProRealTime knowledge

//----------------------------------------------------------//

//-----Inputs-----------------------------------------------//

squared = 1 //Square line

showfib = 1 //show fibonacci

//---EOT 1 Main Oscilator

lpperiod = 6 //Quotient

k1 = 0.00// K1

k2 = 0.3

esize = 60 // Size

ey = 50 //Y axis

trigno = 2 //trigger length

//---EOT 2

lpperiod2 = 27 //

k12 = 0.8

k22 = 0.3

esize2 = 60

ey2 = 50

//---EOT 3

lpperiod3 = 11 //

k13 = 0.99

k33 = k13*(-1)

esize3 = 60

ey3 = 50

if squared then

k13 = 0.9999

k33 = -0.9999

endif

//----------------------------------------------------------//

//-----Fibonacci Levels-------------------------------------//

if showfib then

DRAWHLINE(84) coloured(33, 150, 243,50)style(dottedline)

DRAWHLINE(64) coloured(33, 150, 243,50)style(dottedline)

DRAWHLINE(50) coloured(33, 150, 243,50)style(dottedline)

DRAWHLINE(36) coloured(33, 150, 243,50)style(dottedline)

DRAWHLINE(18) coloured(33, 150, 243,50)style(dottedline)

endif

//----------------------------------------------------------//

pi = 180

//-----EOT 1------------------------------------------------//

if barindex > 2 then

//highpass filter cyclic components

//whose periods are shorter than 100 bars

alpha1 = (cos(0.707*2*pi/100)+sin(0.707*2*pi/100)-1)/cos(0.707*2*pi/100)

hp = (1-alpha1/2)*(1-alpha1/2)*(close-2*close[1]+close[2])+2*(1-alpha1)*hp[1]-(1-alpha1)*(1-alpha1)*hp[2]

//supersmoother filter

a1 = exp(-1.414*3.1416/lpperiod)

b1 = 2*a1*cos(1.414*pi/lpperiod)

c2 = b1

c3 = -a1*a1

c1 = 1-c2-c3

filt = c1*(hp+hp[1])/2+c2*filt[1]+c3*filt[2]

//fast attack-slow decay algorithm

peak = 0.991*peak[1]

if abs(filt)>peak then

peak=abs(filt)

else

peak=peak

endif

//normalizad roffing filter

if peak<>0 then

x=filt/peak

else

x=x

endif

Quotient1 = (x+k1)/(k1*x+1)

Quotient2 = (x+k2)/(k2*x+1)

endif

//----------------------------------------------------------//

//-----EOT 2------------------------------------------------//

IF BARINDEX>2 THEN

alpha1222 = (cos(.707 * 2 * pi / 100) + sin(.707 * 2 * pi / 100) - 1) / cos(.707 * 2 * pi / 100)

HP2 = (1 - alpha1222 / 2) * (1 - alpha1222 / 2) * (close - 2 * close[1] + close[2]) + 2 * (1 - alpha1222) * HP2[1] - (1 - alpha1222) * (1 - alpha1222) * HP2[2]

//----------------------------------------------------------//

//SuperSmoother Filter

a12 = EXP(-1.414 * 3.1416 / LPPeriod2)

b12 = 2 * a12 * cos(1.414 * pi / LPPeriod2)

c22 = b12

c32 = -a12 * a12

c12 = 1 - c22 - c32

Filt2 = c12 * (HP2 + HP2[1]) / 2 + c22 * Filt2[1] + c32 * Filt2[2]

//Fast Attack - Slow Decay Algorithm

Peak2 = .991 * Peak2[1]

if abs(Filt2) > Peak2 then

Peak2 = abs(Filt2)

else

Peak2 = peak2

endif

//Normalized Roofing Filter

if Peak2 <> 0 then

X2 = Filt2 / Peak2

else

X2 = X2

endif

Quotient3 = (X2 + K12) / (K12 * X2 + 1)

Quotient4 = (X2 + K22) / (K22 * X2 + 1)

endif

//----------------------------------------------------------//

//-----EOT 3------------------------------------------------//

if barindex > 2 then

alpha1333 = (cos(.707 * 2 * pi / 100) + sin(.707 * 2 * pi / 100) - 1) / cos(.707 * 2 * pi / 100)

HP3 = (1 - alpha1333 / 3) * (1 - alpha1333 / 2) * (close - 2 * close[1] + close[2]) + 2 * (1 - alpha1333) * HP3[1] - (1 - alpha1333) * (1 - alpha1333) * HP3[2]

//SuperSmoother Filter

a13 = exp(-1.414 * 3.1416 / LPPeriod3)

b13 = 2 * a13 * cos(1.414 * pi / LPPeriod3)

c33 = b13

c333 = -a13 * a13

c13 = 1 - c33 - c333

Filt3 = c13 * (HP3 + HP3[1]) / 2 + c33 * Filt3[1] + c333 * Filt3[2]

//Fast Attack - Slow Decay Algorithm

Peak3 = .991 * Peak3[1]

if abs(Filt3) > Peak3 then

Peak3 = abs(Filt3)

else

Peak3 = peak3

endif

//Normalized Roofing Filter

if Peak3 <> 0 then

X3 = Filt3 / Peak3

else

X3 = peak3

endif

Quotient5 = (X3 + K13) / (K13 * X3 + 1)

Quotient6 = (X3 + K33) / (K33 * X3 + 1)

line1 = -0.9

endif

//----------------------------------------------------------//

//-----Plot EOTs--------------------------------------------//

//---EOT1

q1 = Quotient1 * esize + ey

q2 = Quotient2 * esize + ey

trigger = average[trigno](q1)

//---EOT2

q3 = Quotient3 * esize + ey

q4 = Quotient4 * esize + ey

colorbetween(q3,q4,255,178,105,200)

//---EOT3

q5 = Quotient5 * esize2 + ey2

q6 = Quotient6 * esize2 + ey2

//----------------------------------------------------------//

return q1 as "oscillator"coloured(102,255,255)style(line,2), trigger as "Trigger"coloured(224,224,224)style(line,2),q3 as "Q3"coloured("red",50), q4 as "Q4"coloured("red",50), Q5 as"q5" coloured("YELLOW") , Q6 as "q6" coloured(255,51,153)

Oscillator

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments :

Filename : download the ITF files

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Indicator Components

Fibonacci Levels

Filter and Supersmoother Algorithm

Fast Attack and Slow Decay Algorithm

EOT Oscillator 1

EOT Oscillator 2 and EOT Oscillator 3

Complete Indicator Code

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