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| Added: August 13, 2008 |
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In my article in this issue (October 2001 Stocks & Commodities), I present the trend detection index (TDI), which can be used to help detect when a trend has begun and when it has come to an end.
--M.H. Pee
Here's how to calculate the TDI in TradeStation EasyLanguage:
Code:
Type : Indicator, Name : Trend Detection Index
inputs:
Price( Close ),
Length( 20 ) ;
variables:
Length2( 2 * Length ),
Mom( 0 ),
MomAbs( 0 ),
MomSum( 0 ),
MomSumAbs( 0 ),
MomAbsSum( 0 ) ,
MomAbsSum2( 0 ),
TDL( 0 ),
MktPos( 0 ) ;
Mom = Price - Price[Length] ;
MomAbs = AbsValue( Mom ) ;
MomSum = Summation( Mom, Length ) ;
MomSumAbs = AbsValue( MomSum ) ;
MomAbsSum = Summation( MomAbs, Length ) ;
MomAbsSum2 = Summation( MomAbs, Length2 ) ;
{Plot TDL for the index itself.}
TDL = MomSumAbs - ( MomAbsSum2 - MomAbsSum ) ;
{Plot MktPos for outright buy and sell signals}
MktPos = Iff( TDL[1] > 0, Iff( MomSum[1] > 0, 1, -1 ), MktPos[1] );
Plot1( MktPos,"Position");
Author: M. H. Pee
Source: http://www.traders.com
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