The PiTrend original trend indicator that can have the values from -1 to +1. The closer the indicator value is to +1, the stronger the uptrend is. The closer it is to -1, the stronger the downtrend is. It can also be used as an oscillator to define the overbought/oversold levels.
The indicator has one input parameter Distance for specifying the distance in points. The indicator ignores the price movements less than the Distance value.
Added the signal line calculated as a moving average of the main line of the indicator. The Distance parameter determines the minimum price movement in points. The Period Signal parameter determines the period of calculation of the signal line.