Tuschar Chande’s Trend Score

Tuschar Chande’s Trend Score

 

This is a trend indicator conceptualized by Tuschar Chande. It is a method of rating the trend by comparing the current day’s close to the close x days ago.

If today’s close is greater than close x days ago, score = 1

If today’s close is less than the close x+1 days ago, score = -1

Tuschar Chande suggested comparing the close to the closes from 11 to 20 days ago.

Therefore,

Trendscore = 10 day sum of the scores from days 11 to 20.

The trend score for this case will oscillate between +10 to -10.

(description found on internet).

 

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  1. supertiti • 257 days ago #

    Bonsoir à tous

    For those who like me want to calibrate this indicator on a scale of 0 to 100 to join it to other indicators of the same scale :
    // ChandesTrendScore PRC //06.02.18 modifié DID
    //Nicolas @ http://www.prorealcode.com //Sharing ProRealTime knowledge

    // score = 0
    score = 50

    //for i = 11 to 20 do
    for i = a to b do
    if close>close[i] then
    score=score+1
    else
    score=score-1
    endif
    next

    CTSM = WeightedAverage[SmoothingPeriod](score)

    RETURN CTSM

    // Variables :
    //SmoothingPeriod = 5
    // a = 51
    // b = 100
    // score = 50

    //nota : le add PRT code ne fonctionne pas ?!

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