Continuous Trend change indicator

Continuous trend change indicator plots trend on a chart using the classic trend definition.

No proprietary trick, no black box. Uses the classic definition of trend is as follows:

higher highs and higher lows indicate up trend
lower high and lower lows indicate down trend
Anything else is sideways

Specifications:

Trading platforms supported- Trade Station, Ninja Trader
Markets- Stocks, ETF, indexes, futures, and FOREX
Chart type- Candlestick, bar chart
Intervals type- Tick, volume, seconds, minutes, days, weeks and months
Parameters: Swing points ( Default 3, can be changed to any desired value); Space below- indicator displacement from the low of price bars; Trend colors- uptrend color, down trend color, and sideways trend color

Description

Trading in the direction of trend is the most common high level strategy. However, determining trend and following the rules of trend determination same consistently is often a challenge. Continuous trend indicator removes the guess work and plots trend continuously using the the most common trend determinants.

Continuous trend indicator uses the most well know and classic definition of trend:

A series of Higher highs, and higher lows indicate up trend
A series of lower highs, and lower lows indicate down trend
Price action that does follow either of above two patterns indicate an uncertain trend, or sideways movement

The indicator, uses swing points to determine highs and lows, which can be customized using the parameters. In the event price break higher than highest swing point without making a new swing point, the indicator shows trend change from a down or sideways to up. In the same way, when trend is up or sideways, and price breaks below lowest swing point, then down trend begins.

Format parameters:

Name	Expression	Default Value	Description
lowStrength	Numeric	3	Sets the number of bars on either side of the swing low
HighStrength	Numeric	3	Sets the number of bars on either side of the swing high
space_below	Numeric	200	indicator position- number of ticks below the low of the bar
up_trend_color	string	Green	CCI value to indicate that security is oversold
down_trend_color	string	Magenta	CCI value to indicate that security is overbought
no_trend_color	string	white	Higher end of price zone of interest. The default value is high enough to include most securities, and all price ranges

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