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Eugene,
I don't have the code but the bottom is the discription from
Stock&Commodities articles.
"trendscore:
If today's close is greater than or equal to the close x
days ago, score one point. If today's close is less than
the close x days ago, the trends' rating loses one point.
Next, compare today's close to the close x+1 days ago. If
today's close is greater than or equal to that close, score
another point. Deduct one point if the close is lower than
the prior close.
If(today's close>=close x days ago) then score =1
If(today's close<close x days ago) then score =-1
Add up the score for 10 camparisons; the score varies from
+10 to -10. If today's close is greater than all the
previos closes, then the trend's score is +10; if today's
close is less than all the previous closes, the score is
-10. You could smooth? the data by adding fewer than 10days
or more than 10 days.
Trendscore = 10-day sum of scores from days 11 to 20
I begin my calculations at 11 days back from the present
and go back another 10 days. Thus, I compare today's close
to the closes from 11 to 20 days ago. If today's close is
greater than all 10 closes, then trends' score is +10. If
today's close is less than the closes from 11 to 20 days
ago, then the trend's score is -10. In sideways markets,
the score ranges from +10 to -10. A positive score shows an
upward trend bias. Similarly, a negative score shows a
downward bias.
I prefer the 11-to 20-day period because it fits my trading
horizon. A shorter time of comparison may be too volatile,
producing frequent trend change signals, while a longer
comparison time is slow to respond. During long trends, the
trendscore remains at the outer limits, +10 or -10, for the
duration of the trend. In sideways markets, the score
doesn't remain at +10 or -10 for long, oscillating between
these limits."
--- In amibroker@xxxxxxxxxxxxxxx, "Eugene" <eugenecpinto@xxxx> wrote:
>
> Has anyone coded this indicator and would like to share?
>
> Thanks
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