Version 1.3 September 17, 2017
The Trigger Lines indicator is composed of two lines. The leading line is a linear regression indicator (LinReg). The lagging line or signal line is an exponential moving average (EMA) of the leading line.
This indicator comes with two different options for identifying and uptrend or downtrend:
Trigger line cross: When the leading regression line crosses above the signal line, this is the beginning of an uptrend. Vice-versa the indicator signals a downtrend, as long as the leading line remains below the signal line.
Thrust bars: An uptrend is detected via an upthrust bar that closes and has a median above both trigger lines. A downtrend follows a downthrust bar that closes and has a median below both trigger lines.
The second trend definition adapts faster to changing market conditions, but also produces a higher number of false signals. The trend can be shown via paint bars. The indicator further comes with sound alerts that will signal a trend change.
Category NinjaTrader 8 Indicators and More
|
|
|
