This is plots the indicator developed by Andrew Abraham
in the Trading the Trend article of TASC September 1998
in the Trading the Trend article of TASC September 1998
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 21/08/2014 // This is plots the indicator developed by Andrew Abraham // in the Trading the Trend article of TASC September 1998 //////////////////////////////////////////////////////////// study(title="Trend Trader", overlay = true) Length = input(21, minval=1), Multiplier = input(3, minval=1) avgTR = wma(atr(1), Length) highestC = highest(Length) lowestC = lowest(Length) hiLimit = highestC[1]-(avgTR[1] * Multiplier) loLimit = lowestC[1]+(avgTR[1] * Multiplier) ret = iff(close > hiLimit and close > loLimit, hiLimit, iff(close < loLimit and close < hiLimit, loLimit, nz(ret[1], 0))) plot(ret, color= blue , title="Trend Trader")