Trend Sign

The Trend Sign indicator is a modification of the MACD indicator (Moving Average Convergence Divergence), which allows determining the direction and strength of the trend, as well as a trend change.

The indicator is based on two moving averages - fast and slow, and it can work on any timeframe.

Uptrends are shown by blue color of the indicator line, downtrends by the red color.

Close a short position and open a long one if the line color changes from red to blue.

Close a long position and open a short one if the line color changes from blue to red.

Use a small stop loss, as the line itself may suddenly change its color and direction.

The following can be set in the indicator's Inputs tab:

• period (Fast Period, Slow Period);
• moving average smoothing method (Simple, Exponential, Smoothed, Linear weighted);
• price used calculations (Close, Open, High, Low, Median, Typical, Weighted).

The Colors tab allows to choose the color, width and line style of the indicator.

Parameters

• fast period - number of bars used for fast moving average calculation;
• fast method - smoothing method for the fast moving average;
• fast applied price - applied price for the fast moving average;
• slow period - number of bars used for slow moving average calculation;
• slow method - smoothing method for the slow moving average;
• slow applied price - applied price for the slow moving average;