Baseline Summation [racer8]
Baseline Summation is a trend indicator that takes the summation of the true ranges above the current close and subtracts that from the summation of the true ranges below the current close over 30 periods back. The result is then smoothed out with a smoothing parameter and plotted. Green means buy, red means sell. Enjoy :)
Release Notes:
Added feature that colors price bars according to indicator.
Release Notes:
...
Baseline Summation has now been simplified from 123 lines to 29 lines of code.
And finally, the Baseline Summation parameter is no longer fixed at 35 period lookback...it can be changed to whatever the user prefers.
Baseline Summation has now been simplified from 123 lines to 29 lines of code.
And finally, the Baseline Summation parameter is no longer fixed at 35 period lookback...it can be changed to whatever the user prefers.