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Ohnishi Line Trend

Ohnishi Line Trend is the lite version of Ohnishi Bands System. Ohnishi Line Trend consists of a line and signal arrows. The values of a center line are calculated by the unique algorithm. Let us call this center line "Representative Line" or "Ohnishi Line", and write simply "R-Line".

R-Line keeps a central position of recent prices. We know that a short-term moving average is often noisy, and a long-term moving average is sometimes at a distance from the real price. R-Line is a moderate solution for each of the problems.

  • Suppose that there is a bullish trend when the R-Line is sky-blue.
  • Suppose that there is a bearish trend when the R-Line is red.
  • You should wait when the R-Line is yellow.

Signal arrows appear if the color of R-Line has turned.

Note that MN1 timeframe is not supported. You need to change option settings: Tools -> Options -> Charts. Set the values of "Max bars in history" and "Max bars in chart" to less than or equal to 100 000.

See also Ohnishi Bands System and Ohnishi Oscillator.

Ohnishi Bands System is a more advanced indicator which fully contains Ohnishi Line Trend. Ohnishi Oscillator helps Ohnishi Line Trend and vice versa.

Thank you for your time and good luck!

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Version 1.30 - 2017.02.16
A few bugs fixed.
Version 1.20 - 2015.08.24
A few bugs fixed. The Strategy Tester and E-mail Alert function are supported.