I had a recent request from somebody to have a look at the Gann HiLow Activator. It is a stop and reverse indicator similar to the SuperTrend.
The indicator was first described by Robert KRausz in Stocks & Commodities in 1998 and is based on a 3-day trend concept which was used by Gann.
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The stop bands are calculated as a moving average from the bar highs, or a moving average from the bar lows. This means that the stop line is closer to price action than the stopline of the Supertrend. This has an advantage and an incovenient. The advantage is that the average losing trade is much smaller. The inconvenient is that there are much more losing trades, as the HiLo Activator may change directions frequently during longer sideways price action.
Attached is a chart with the HiLoActivator calculated from an ADXVMA with a period of 50. Below is another chart with the SuperTrend U11 also using an ADXVMA. What you can easily see is that the SuperTrend only suffered from a single whipsaw. However, the loss produced by the whipsaw was 33 pips in this case.
The link to the first version of the indicator is below.