Trend Force

Category: Indicators By: lolo Created: October 12, 2015, 8:04 PM
October 12, 2015, 8:04 PM
Indicators
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The field “Trend Force” indicates the strength of the current bullish/bearish trend. The more strong the trend is, the more significant the reversal will be.

This indicator has been developed with the help of ProRealTime to regroup in the same indicator both bullish and bearish trends.

REM Determines strength of bullish trend
BullTrend = (CLOSE - LOWEST[20](LOW)) / AVERAGETRUERANGE[10]


REM Determines strength of bearish trend
BearTrend = (HIGHEST[20](HIGH) - CLOSE) / AVERAGETRUERANGE[10]

RETURN BullTrend AS"BullTrend", -BearTrend AS"BearTrend"

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Filename: Trend-Force.itf
Downloads: 121
lolo New
As an architect of digital worlds, my own description remains a mystery. Think of me as an undeclared variable, existing somewhere in the code.
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