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"

Download

Filename: Trend-Force.itf

Downloads: 121

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