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The indicator displays trend strength, including showing the transition from buy to sell and visa versa. It is ideal for trend following strategies and also highlights possible reversals/flattening trend with a yellow X on the indicator window. By default, the indicator does not repaint/flicker, however, there is an option to calculate on the live candle but even then the indicator will not repaint unduly. The indicator can also be used for exit.
Usage
Enter long/buy trade when the indicator transitions from red to green. Enter sell/short when the indicator transitions from green to red. Do not trade if a yellow X is shown for the current candle. During a trade you can consider an exit when the yellow X appears, and definitely if the indicator changes to the opposite color.
Inputs
- Main_calcLiveCandle – If set, then the indicator will calculate on the current live candle. Naturally, this will cause some repainting of the indicator value for that candle.
