This is an original trend indicator. Its values vary from -1 to +1. The closer the indicator is to +1, the stronger is the ascending trend. The closer it is to -1, the stronger is the descending trend. The indicator can be also used as an oscillator for determining the overbought/oversold state of the market. The indicator has one input parameter Period for specifying the number of bars to be used for calculations.
Added the signal line calculated as a moving average of the main line of the indicator. The Period Main parameter determines the number of bars used for calculation. The Period Signal parameter determines the period of calculation of the signal line.