Description
The TTM_Trend study is intended to indicate the true direction of the trend replacing false signals with true ones.
The TTM_Trend study converts the normal chart to the view where irregularities are eliminated. In TTM_Trend, a bar is shown as bearish when the Average Price has closed in the lower 50% price range of the input-defined number of previous bars. If the Average Price has otherwise closed in the upper 50% range, the bar is shown as bullish.
Input Parameters
| Parameter | Description |
|---|---|
comp bars
|
The number of bars to calculate the price range. |
paint bars
|
Defines whether or not to paint bars according to the algorithm (blue for bullish trend, red for bearish trend). |
Plots
| Plot | Description |
|---|---|
TrendUp
|
The Trend Up plot. |
TrendDown
|
The Trend Down plot. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.