Noise Elimination Technology
The Noise Elimination Technology (NET) indicator is designed to reduce indicator noise using the Kendall rank correlation formula, which measures the strength of dependence between two sets of variables, smoothing the source indicator, without introducing lag.
The NET indicator is designed to be applied to other indicator tools (rather than used as a standalone item), the above example show the NET applied to the MyRSI tool.
To add the tool to your chart, select the tool from the Ehlers tool group, and left-click on the indicator you want to calculate from. Optuma will then draw the tool on top of the selected indicator.
Scripting Function: NET()
As the NET tool is used on an indicator you would use the NET() function as follows to show when the NET of the MyRSI crosses above 0:
V1 = MYRSI();<br></br>NET(V1) CrossesAbove 0
Actions & Properties
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple NET tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other NET tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new NET to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Bars: Allows you to increase or decrease the number of bars that are used in the calculation.
Plot Style: Allows you to change how the NET is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
Line Style: The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to adjust the width of the lines. Moving the slider bar to the right increases the thickness of the line.
Colour Scheme: Allows you to swap between different colour setups for the NET tool. Options include Copy Colours from Chart, Single Colour (default), Positive / Negative and Custom.
Line Colour: Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show In Price Scale: When selected the current NET value will be displayed in the Price Scale.