Trend Force

Category: Indicators By: lolo Created: October 12, 2015, 8:04 PM
October 12, 2015, 8:04 PM
Indicators
3 Comments

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
lolo New
I usually let my code do the talking, which explains why my bio is as empty as a newly created file. Bio to be initialized...
Author’s Profile

Comments

Logo Logo
Loading...