i read kottgolf's thread "Trying to program WillTrend by Larry Williams".I'm trying to understand what kind indicator is this,plotted on the monthly chart of eurostoxx 50:
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The author says that it is based on range,volatility and the position of the closes in the last n bars and that it works on any time frame without modifications(so i presume it's adaptive) .When High touches the upper band(blue line) a buy signal is given,when low touches the lower band(red) a sell signal is given.Furthermore,in the graph you can see two grey lines:If we are long and prices(low) touch the lower grey line,the market becomes neutral;if we are short and prices(high)touch the upper grey line,the market becomes neutral.
In other words,the indicator gives, at the end of every period, the levels of trend changes for the next period. It seems to me that it's a kind of willtrend indicator or adaptive atr bands.
I don't know other.
Thank you all and forgive my poor english
noumann - Could you state your objective more clearly? You have made two posts about this indicator which was developed by Francesco Caruso. He called it the Change of Trend Point system, but now it is called the Disciplined Investor or the Algorithm "ID". Mr Caruso says that this is an indicator that "no one else could imitate or copy" but apparently he will provide more information if you subscribe to his analysis service.