Trend Strength Indicator

2020년 11월 12일

How to use?

1) The purple line summarizes the overall trend strength.

If the purple line is above 50, the market is considered to be bullish
If the purple line is below 50, the market is then considered to be bearish

Buy-Long position can be considered when the purple line is crossing up the 50-line and exit-long position can be considered vice versa.
However it is best to let the purple line to test the 50 line after crossing.

2) Each bar represents the each price movement strength index.

If the bar is above the purple line, the bar's color will become blue, indicating that the price is gaining momentum.
If the bar is below the purple line, the bar's color will turn to yellow, indicating the prices is losing momentum.

Default setting is period : 20, average : 20. It can be customized based on trading style and risk tolerance.

2020년 12월 16일

릴리즈 노트

Changed default setting from 20/20 to 14/14

Change lower base from 20 to 0

2020년 12월 16일

릴리즈 노트

Adjusted the precision for divergence

2021년 1월 10일

릴리즈 노트

1) Updated calculation coding and default setting (14/14 to 14/20) to reduce noise
2) Add up color bar coding. When Average line crosses up 50 line, bar color will turn to yellow and turns to purple when crosses down 50-line

2021년 8월 1일

릴리즈 노트

1) Updated name from Trend Strength Indicator to Trend Relative Strength
2) Introduced input for average up & average down control