HPotter

Trend Trader

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This is plots the indicator developed by Andrew Abraham
in the Trading the Trend article of TASC September 1998
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 21/08/2014
// This is plots the indicator developed by Andrew Abraham 
// in the Trading the Trend article of TASC September 1998  
////////////////////////////////////////////////////////////
study(title="Trend Trader", overlay = true)
Length = input(21, minval=1),
Multiplier = input(3, minval=1)
avgTR      = wma(atr(1), Length)
highestC   = highest(Length)
lowestC    = lowest(Length)
hiLimit = highestC[1]-(avgTR[1] * Multiplier)
loLimit = lowestC[1]+(avgTR[1] * Multiplier)
ret = iff(close > hiLimit and close > loLimit, hiLimit,
        iff(close < loLimit and close < hiLimit, loLimit, nz(ret[1], 0)))
plot(ret, color= blue , title="Trend Trader")

Comments

Is there a way to add an ema to this?
Reply
@Kasap, Interesting idea. I will do it and post.
Reply
Kasap HPotter
@HPotter, this trend line work similar to an ATR and a 20 ema but differs and shines best with strong trends
Reply
@Kasap, Do you want to see ema as a second line? Or make average TT values?
Reply
Kasap HPotter
@HPotter, An average TT would be nice, i can experiment with that. Cheers
Reply
@Kasap, Look at this  
Reply
@Kasap, Sorry, This link
Reply
Kasap HPotter
@HPotter, Thanks, i'll try it out and let you know what i think afterwards
Reply
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