TREND TERRITORY

TREND TERRITORY

Type : Indicator, Name : TrendArea Indicator

inputs: ThresholdArea(1500);

vars: BarCount(0),SlowMA(0),FastMA(0),
color(0),area(0);

SlowMA = average(close,15);
FastMA = average(close,5);

{ see if we have a new possible trend starting }
if FastMA crosses above SlowMA or
FastMA crosses below SlowMA then
begin
BarCount = 0;
area = 0;
end;

{ increment BarCount +1 if FastMA above SlowMA…
decrement BarCount -1 if FastMA below SlowMA}
BarCount = IFF(FastMA > SlowMA,BarCount + 1,BarCount);
BarCount = IFF(FastMA < SlowMA,BarCount — 1,BarCount);

{ multiply each individual area by its barcount }
area = area + AbsValue(BarCount) * (FastMA — SlowMA);

color = IFF(BarCount > 0,green,cyan);
color = IFF(BarCount < 0,red,color);

plot1(area,»Area»,color);
plot2(0,»zero line»);
plot3(ThresholdArea,»+Thresh»);
plot4(-ThresholdArea,»-Thresh»);

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