The Prevailing Trend oscillator shows the prevailing trend as two components - the bullish and the bearish one, which are represented as two indicator lines: Up for the bullish component and Down for the bearish one. If the bullish line is above the bearish one, the bullish trend prevails in the market, and vice versa.
The indicator has two input parameters:
- Period - calculation period;
- Method - calculation method.
Calculation:
Up = the Moving Average of bullish candlesticks for the period Down = the Moving Average of bearish candlesticks for the period
