1. Lag of moving averages is the enemy of technical analysts.
2. Instantaneous trend-line is created by subtracting the High Pass Filter (Cycle Mode) from AllPass.
3. Zero frequency lag is removed.
4. Trading needs a leading signal: add a 2 day momentum to the Instantaneous Trendline to get a 2 bar lead.
5. Momentum advancing comes with a penalty: nearly a 10 dB filter gain for a 4 bar cycle.
6. Gain is unimportant to the Instantaneous Trendline because it has 25 dB attenuation at a 4 bar cycle.
7. A low lag smoothing filter is used to remove the high frequency content of the High Pass Filter:
smooth = (price + 2*price[1] + 2*price[2] + price[3]) / 6
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