IdeaTrend is meant for checking a trend defining idea.
The indicator has three input parameters:
- Period - calculation period;
- Method - calculation method;
- Threshold - trend direction threshold.
Calculation:
Idea = (MAH - MAC) / (MAC - MAL)
where:
MAH = MA(High, Period, Method) MAL = MA(Low, Period, Method) MAC = MA(Close, Period, Method)
- If the indicator histogram exceeds the Threshold line, the trend is considered downwards and the histogram columns are colored in red;
- If the indicator histogram is below the Threshold line, the trend is considered upwards and the histogram columns are colored in green.
