Trend Follower

Trend Follower

It analyses moving averages in a channel and their momentum according to the channel width.

On each bar it creates a channel by highest/lowest point of a MA. highest point is upper point and lowest point is lower point of the MA channel.

It gets highest and lowest point of last 300 bars, (say Price Channel )
If the width of MA channel is greater than certain rate of price channel then it decides there is trend.

After it decided there is trend, it calculates the rate between channel and MA. Bigger result means stronger trend.

According to rate of MA channel and the price channel , bar color becomes lighter/darker. so when you look at the bar color you can see the trend strength.

The darker the colour, the weeker the trend is.

Upon a request from user denmar (https://www.prorealcode.com/topic/help-converting-trend-follower-indicator-from-trading-view/) I converted this indicator written by LonesomeTheBlue.

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Risk disclosure:

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 : How to import ITF files into ProRealTime platform?

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  1. denmar • 29 days ago #

    Many thanks. Highly appreciated.

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