EREMA

//@version=5
// Copyright (c) 2018-present, Alex Orekhov (everget)
// Ehlers Reverse Exponential Moving Average script may be freely distributed under the MIT license.
indicator('Ehlers Reverse Exponential Moving Average', shorttitle='EREMA')

trendAlpha = input(title='Trend Alpha', defval=0.05)
cycleAlpha = input(title='Cycle Alpha', defval=0.3)
src = input(title='Source', defval=close)

erema(src, alpha) =>
    delta = 1 - alpha

    ema = 0.0
    ema := alpha * src + delta * nz(ema[1])

    // Compute Reverse EMA
    re1 = delta * ema + nz(ema[1])
    re2 = math.pow(delta, 2) * re1 + nz(re1[1])
    re3 = math.pow(delta, 4) * re2 + nz(re2[1])
    re4 = math.pow(delta, 8) * re3 + nz(re3[1])
    re5 = math.pow(delta, 16) * re4 + nz(re4[1])
    re6 = math.pow(delta, 32) * re5 + nz(re5[1])
    re7 = math.pow(delta, 64) * re6 + nz(re6[1])
    re8 = math.pow(delta, 128) * re7 + nz(re7[1])

    erema = ema - alpha * re8
    erema

eremaTrend = erema(src, trendAlpha)
eremaTrendColor = #674ea7

eremaCycle = erema(src, cycleAlpha)
eremaCycleColor = eremaCycle > 0 ? #0ebb23 : color.red

eremaTrendPlot = plot(eremaTrend, title='Trend', linewidth=2, color=color.new(eremaTrendColor, 0))
eremaCyclePlot = plot(eremaCycle, title='Cycle', linewidth=2, color=eremaCycleColor, transp=0)

color_1 = color.new(color.white, 100)
fillColor = eremaTrend >= 0 and eremaCycle >= 0 ? #0ebb23 : eremaTrend < 0 and eremaCycle < 0 ? color.red : color_1

fill(eremaTrendPlot, eremaCyclePlot, color=fillColor, transp=80)

hline(0, title='Zero Level', linestyle=hline.style_dotted, color=#989898)