/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+--------------------------------------------------------------------+
//| TII_RLH |
//| Copyright © 2006, Robert Hill |
//| http://www.metaquotes.net/ |
//| |
//| Based on the formula developed by M. H. PEE |
//| |
//| Trend Intensity Index. |
//| |
//| TII is used to indicate the strength of the current trend in the |
//| market. The stronger the current trend, the more likely the |
//| market will continue moving in the current direction. |
//| It is recommended to enter the market during a strong trend |
//| and ride it until TII shows signs of a reversal, at which time |
//| you should abandon your position and prepare to enter in the |
//| opposite direction. |
//| Pee recommends using a major period of 60 and a minor period of 30.|
//| Assuming these setting, TII is calculated as follows. |
//| The 60 bar simple moving average (MA) is computed. |
//| The deviation between the closing price and this computed average |
//| for each of the last 30 bars is computed (CL - MA). |
//| Positive deviations (CL > MA) are summed to give SDPOS. |
//| Negative deviations (CL < MA) are summed to give SDNEG. |
//| Then, the 30 period TII is calculated as: |
//| 100 * SDPOS / (SDPOS - SDNEG). |
//| TII ranges from a lower limit of 0 to an upper limit of 100 |
//| A TII value above 50 signals an uptrend |
//| A TII value of 80 means that 80% of the total deviations are up |
//| When TII fall below 50, a downtrend is likely in place |
//| 50 represents a level that is trend-neutral |
//| The closer TII is to 100, the stronger the current uptrend |
//| The closer TII is to 0, the stronger the current downtrend |
//| |
//+--------------------------------------------------------------------+
#property copyright "Copyright © 2006, Robert Hill "
#property link "http://www.metaquotes.net/"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Red
#property indicator_width1 2
extern int Major_Period = 60;
extern int Minor_Period = 30;
//---- buffers
double ma[];
double ma_dev[];
double tii[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
IndicatorBuffers(3);
SetIndexStyle(0,DRAW_LINE);
SetIndexDrawBegin(0,Major_Period);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS)+2);
//---- 3 indicator buffers mapping
if(!SetIndexBuffer(0,tii) &&
!SetIndexBuffer(1,ma_dev) &&
!SetIndexBuffer(2,ma))
Print("cannot set indicator buffers!");
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("TII("+Minor_Period+")");
//---- initialization done
return(0);
}
int start()
{
int i,j, limit;
double sdPos, sdNeg;
int counted_bars=IndicatorCounted();
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
for(i = limit; i >= 0; i--)
{
ma[i] = iMA(NULL,0,Major_Period,0,MODE_SMA,PRICE_CLOSE,i);
ma_dev[i] = Close[i] - ma[i];
}
//========== COLOR CODING ===========================================
for(i = 0; i <=limit; i++)
{
sdPos = 0;
sdNeg = 0;
for (j=i;j<i+30;j++)
{
if (ma_dev[j] >= 0) sdPos = sdPos + ma_dev[j];
if (ma_dev[j] < 0) sdNeg = sdNeg + ma_dev[j];
}
tii[i] = 100 * sdPos/(sdPos - sdNeg);
}
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Series array that contains close prices for each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Indicators Used:
Moving average indicator
Custom Indicators Used:
Order Management characteristics:
Other Features: