Prevailing Trend

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Re: Prevailing Trend

Postby speakinmymind » Thu Jan 30, 2014 11:22 am

I was wondering if the difference of this indicator can some how be imposed on the price chart.

Maybe using a formula it can be done. I was thinking multiplying the output of the difference by 100 or so, and adding (subtracting for negative) that number of pips to the current price to plot the line.

Does this seem feasible?
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Re: Prevailing Trend

Postby Apprentice » Sat Feb 01, 2014 2:42 pm

Maybe we can use some method of normalization.
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Re: Prevailing Trend

Postby Apprentice » Sun Feb 02, 2014 4:25 am

Something like this.
Trend with Normalization.lua
(6.34 KiB) Downloaded 776 times

Without clear guidance, I am not willing to continue this task.
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Re: Prevailing Trend

Postby speakinmymind » Sun Feb 02, 2014 11:42 am

I apologize if i seemed unresponsive.

The indicator with normalization is a very helpful tool!!

I was envisioning something different though. Based on the difference line (DL) output data only, I was hoping a line can be created.

The formula would be something like this for the line on the chart:

1) When ever the DL equals zero, that should plot a point on the Close/Open price.

2) When ever the DL is above zero, (say .00035) this number can be represented as a percentage increase from zero. (say and increase of .025%)

3) That percentage can be added to the Close/Open price to plot that point.

4) Step 2 and 3 used for negative output as well.

The resulting line should in theory basically show convergence/divergence between the line and what price is doing.

I hope that wasn't too confusing!! :?
Thanks!
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Re: Prevailing Trend

Postby speakinmymind » Mon Feb 03, 2014 1:48 am

I just realized the normalization shows what I want except the difference line.

Could you just replace the difference line option with a line that is the mid point between the up and down line.

Thanks!!
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Re: Prevailing Trend

Postby speakinmymind » Mon Feb 03, 2014 10:48 am

Great! Thanks!!

Could you please create a strategy that buys on cross up and sells on cross down of trend norm diff line?

Thanks!
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Re: Prevailing Trend

Postby speakinmymind » Mon Feb 03, 2014 12:59 pm

Hey this is a great tool!!

Could you please explain the normalization formula or give me a link on the topic to further understand what you did?
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Re: Prevailing Trend

Postby Apprentice » Tue Feb 04, 2014 3:15 am

This formula was used.

Code: Select all
min1,max1=minmax(close,NormalizationPeriod);
min2,max2=minmax(UPNormalizationPeriod);

Up=  ((UP - min2)/ (max2-min2))*(max1-min1) +min1  ;
Down=  ((DOWN- min2)/ (max2-min2))*(max1-min1) +min1  ;
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Re: Prevailing Trend

Postby Apprentice » Sat Aug 19, 2017 3:59 pm

The indicator was revised and updated.
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