The HyperTrend indicator aims to provide a real-time estimate of an underlying linear trend in the price. Support and resistance extremities are constructed from this estimate which can provide trade opportunities within the overall trend.
Most tools that return lines on a chart are either subject to backpainting or repainting. We aimed to provide a reliable real-time method to estimate linear trends in the price, enhancing traders’ decision making processes when it comes to trading trends in price, hence the term ‘HyperTrend’.
Users can use the HyperTrend to easily determine the trend direction in the price, with an average sloping upward indicating an uptrend, and an average sloping downward indicating a downtrend.
The channels upper extremity can act as a resistance, while the lower extremity can act as a support. Contact with candle wicks can signal timely reversals/retracements
Using a higher “Multiplicative Factor” value will return less frequent new channels, and is suitable to analyze longer-term trends. The slope settings on the other end allow us to control the slope of the returned channels, with higher values returning flatter results (similar to our previously posted predictive ranges).
|
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 |
once avg = close once hold = 0 once os = 1 once rR = 220 once gR = 20 once bR = 60 once rV = 60 once gV = 179 once bV = 113 if barindex > 200 then atr = AverageTrueRange[200] * mult If abs(close - avg) > atr then avg = (close+avg)/2 //avg = avgN else avg = avg + os*(hold/mult/slope) //avg = avgN endif os = sgn(avg - avg[1]) If os <> os[1] then hold = atr else hold = hold[1] endif upper = avg + width*hold/100 lower = avg - width*hold/100 If os = 1 then r = rV g = gV b = bV else r = rR g = gR b = bR endif DRAWSEGMENT(barindex-1,avg[1],barindex,avg) COLOURED(r,g,b,255)style(line,3) DRAWSEGMENT(barindex-1,upper[1],barindex,upper) COLOURED(rR,gR,bR,100)style(line,1) DRAWSEGMENT(barindex-1,lower[1],barindex,lower) COLOURED(rV,gV,bV,100)style(line,1) ColorBetween(avg,upper,rR,gR,bR,30) ColorBetween(avg,lower,rV,gV,bV,30) endif Return |
Share this
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
Find other exclusive trading pro-tools on 
PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials
Muy buen trabajo.Intuitivo y claro.Gracias por tu dedicación y aportación.