My interpretation of Danielle Shay's popular SimplerTrading TrendStrength Turbo indicator.
The TrendStrength indicator is based on a Fibonacci-based stacked EMA arrangement using the 5, 8, 13, 21 and 34 EMAs: -> Green bars indicate an uptrend i.e. when the EMAs are positively stacked - there is more upward pressure than downward pressure in the price; -> Red bars indicate a downtrend i.e. i.e. when the EMAs are negatively stacked - there is more downward pressure on the price; and -> Yellow bars indicate no strong directional trend and potential for a reversal.
Volume spikes 50% above average volume are then flagged as dots at the bottom of the chart further confirming price momentum.
This indicator should compliment other popular indicators, as confirmation whether to stay in a position or not.
@KW420, yes, it's on my list of indicators to try and develop. Keep an eye out on my page and hopefully I can figure it out
Orph5781
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Do you think a future improvement couls include to select VIDYA instead of EMA for a lagless response? Thanks very much
sachinkhetre
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Hi
Stapl3rz
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Hi, would it be possible for you to turn this into a multi time frame table?
ecomake
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Hi, This is very close but the current days are incorrect. Example, on ES (S&P) the current 6 days are incorrectly plotting as 'red' when in fact they should be 'green'. Kind Regards