Very simple representation of a trend, this one cumulate the candlesticks closes above and under a defined period of a simple moving average. Simple but yet effective to avoid classical whipsaw, i believe this indicator could help any trend followers in trading decision. Any comments are welcome !
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// Parameters : // N = 30 i1 = average[N](close) IF (close>i1) THEN a = a + 1 ELSE a = a - 1 ENDIF i2 = average[N](a) RETURN a as "cumulated close over/under MA", i2 coloured(238,230,133) as "trend filter" |
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“i believe this indicator could help any trend followers in trading decision. ” I’m wondering how?