In which direction should I trade today? For “TREND followers”, we need to determine the TREND .
This indicator determines the Trend based on the price High, Low and Close of every bar, for a given period and timeframe. Calculating and plotting the Trend UP and Trend DOWN lines.
If the:
- “Trend UP” line (Green) is above the “Trend DOWN” line (Red), then it is a BULLISH Trend (see "Screenshots" tab).
- “Trend DOWN” line (Red) is above the “Trend UP” line (Green), then it is a BEARISH Trend (see "Screenshots" tab).
As input, you select a timeframe to determine the Trend (variable TIMEFRAME_period ). Eg. if you trade on a M15 Chart, you can select a higher timeframe like H1 (4x higher is appropriate), to determine the Trend. So basically, on a M15 Chart you will see the H1 Trend without having to switch to another Chart window.
Works on any instrument being Forex, Indices, Commodities, Stocks etc.
Input Parameters
- Number of Bars to calculate : predefined value to reduce performance impact on the hardware. Adjust it accordingly to view more or less historic data.
- TIMEFRAME_period : Timeframe to determine the trend. You need to select a timeframe higher or equal to the current one.
Output Buffers
- Buffer 0 : Trend UP value
- Buffer 1 : Trend DOWN value
Note:
Soon to be released, a more advanced and fully featured Trend indicator named “ TSI Trend Stepper ”. Where specific TREND entry zones are plotted in different colors, for both Long and Short positions. More details coming soon …
“The Trend is your friend, trade with it, not against it”.
