Trend Bars

Category: trend

A chart overlay that colors price bars/candles based on their position relative to a Moving Average channel of Highs and Lows.

Formula

\text{Upper Band} = MA(\text{High}, P) \\ \text{Lower Band} = MA(\text{Low}, P) \\ \text{Trend} = \begin{cases} \text{Up} & \text{if } \text{Close} > \text{Upper Band} \\ \text{Down} & \text{if } \text{Close} < \text{Lower Band} \\ \text{Neutral} & \text{otherwise} \end{cases}

Inputs

• MaChannel.Periods (default: 100)
• MaChannel.Method (default: SMA* | LWMA | EMA | SMMA | ALMA)
• Color.UpTrend (default: Blue)
• Color.DownTrend (default: Red)
• Color.NoTrend (default: Silver)
• BarWidth (default: 2)

See signal primitives and every published strategy that uses Trend Bars on WOBR StrategyVerse.