HPotter

Trend Trader Strategy

This is plots the indicator developed by Andrew Abraham
in the Trading the Trend article of TASC September 1998
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 21/08/2014
// This is plots the indicator developed by Andrew Abraham 
// in the Trading the Trend article of TASC September 1998  
////////////////////////////////////////////////////////////
study(title="Trend Trader Strategy", overlay = true)
Length = input(21, minval=1),
Multiplier = input(3, minval=1)
avgTR      = wma(atr(1), Length)
highestC   = highest(Length)
lowestC    = lowest(Length)
hiLimit = highestC[1]-(avgTR[1] * Multiplier)
loLimit = lowestC[1]+(avgTR[1] * Multiplier)
ret = iff(close > hiLimit and close > loLimit, hiLimit,
        iff(close < loLimit and close < hiLimit, loLimit, nz(ret[1], 0)))
pos =	iff(close > ret, 1,
	    iff(close < ret, -1, nz(pos[1], 0))) 
barcolor(pos == -1 ? red: pos == 1 ? green : blue )
plot(ret, color= blue , title="Trend Trader Strategy")

Comments

What is the best time frame for doing intrday using this indicator?
+70 Reply
tak2day purushottamdeb92
+4 Reply
Not useful if it repaints...
+25 Reply
Aominee rocketrader
@rocketrader, how do u know if it repaints ?
Reply
@Aominee, yes, that's what the author says in the thread below.
Reply
Awesome indicator, very useful for intraday trading...
+20 Reply
@sanjeevsaraf19, in sideways market ?
+9 Reply
Does this re-paint?
+20 Reply
HPotter jgree107
@jgree107, Yes
+12 Reply
vNsAbhyy58 HPotter
where its repaint? i not find any code regarding that @HPotter,
Reply
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