DSL Directional EFR (Efficiency Ratio) Smoothed

This is Mladen's directional efficiency ratio, smoothed with a Jurik moving average. Seems ok with a large Jurik smoothing period.

About efficiency ratio:

The Efficiency Ratio (ER) was first presented by Perry Kaufman in his 1995 book ‘Smarter Trading‘. It is calculated by dividing the price change over a period by the absolute sum of the price movements that occurred to achieve that change. The resulting ratio ranges between 0 and 1 with higher values representing a more efficient or trending market. The Kaufman Efficiency Ratio is also know as Fractal Efficiency. It can be used as a filter to differentiate between trending conditions and sideways markets.

This version: The original Efficiency ratio does not show the direction of the market. Also has a choice between anchored or non-anchored discontinued signal lines.