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Trend Score
Using Amibroker AFL, traders can create a Trend Score indicator that quantifies the strength and direction of a trend. Amibroker data is essential for accurate trend analysis. The Trend Score provides a numerical representation of market trends, aiding traders in identifying potential trend changes and making well-informed trading decisions based on trend strength and momentum.
_SECTION_BEGIN("Chande's Trend Score"); // // I just found this code in a Visual Trader site and transfered it into AFL. // //------------------------------------------------------------------------------ SmoothingPeriod = 2; CTS=IIf(C>=Ref(C,-11),1,-1)+IIf(C>=Ref(C,-12),1,-1)+IIf(C>=Ref(C,-13),1,-1)+IIf(C>=Ref(C,-14),1,-1)+IIf(C>=Ref(C,-15),1,-1)+IIf(C>=Ref(C,-16),1,-1)+IIf(C>=Ref(C,-17),1,-1)+IIf(C>=Ref(C,-18),1,-1)+IIf(C>=Ref(C,-19),1,-1)+IIf(C>=Ref(C,-20),1,-1); CTSM = WMA(CTS,SmoothingPeriod); Histo = IIf(CTSM==10,5,IIf(CTS==-10,-5,Null)); Plot(CTSM, "CTSM", colorBlack, styleLine ); Plot(Histo, "", colorGreen, styleHistogram ); Plot(12,"",colorRed,styleLine); Plot(-12,"",colorRed,styleLine); _SECTION_END();