LazyBear

Coral Trend Indicator [LazyBear]

This is a famous trend indicator in MT4 platform. Is this better than other MA based trend systems? I will let you decide that :)

Supported modes:
- Trend mode: This is the default. Draws a trend line (like MA) and colors them based on the trend.
- Ribbon Mode: Shown at the bottom pane. No trend lines are drawn.
- OverlayMode: Bars are colored based on the current trend. Trend line is also displayed (default color=gray).

Complete list of all my indicators:
https://docs.google.com/document/d/15AGC...
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//
// @author LazyBear 
// List of all my indicators: 
// https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
// 
study(title="Coral Trend Indicator [LazyBear]", shorttitle="CTI_LB", overlay=true)
src=close
sm =input(21, title="Smoothing Period")
cd = input(0.4, title="Constant D")
ebc=input(false, title="Color Bars")
ribm=input(false, title="Ribbon Mode")
di = (sm - 1.0) / 2.0 + 1.0
c1 = 2 / (di + 1.0)
c2 = 1 - c1
c3 = 3.0 * (cd * cd + cd * cd * cd)
c4 = -3.0 * (2.0 * cd * cd + cd + cd * cd * cd)
c5 = 3.0 * cd + 1.0 + cd * cd * cd + 3.0 * cd * cd
i1 = c1*src + c2*nz(i1[1])
i2 = c1*i1 + c2*nz(i2[1])
i3 = c1*i2 + c2*nz(i3[1])
i4 = c1*i3 + c2*nz(i4[1])
i5 = c1*i4 + c2*nz(i5[1])
i6 = c1*i5 + c2*nz(i6[1])

bfr = -cd*cd*cd*i6 + c3*(i5) + c4*(i4) + c5*(i3)
// --------------------------------------------------------------------------
// For the Pinescript coders: Determining trend based on the mintick step. 
// --------------------------------------------------------------------------
//bfrC = bfr - nz(bfr[1]) > syminfo.mintick ? green : bfr - nz(bfr[1]) < syminfo.mintick ? red : blue
bfrC = bfr > nz(bfr[1]) ? green : bfr < nz(bfr[1])  ? red : blue
tc=ebc?gray:bfrC
plot(ribm?na:bfr, title="Trend", linewidth=3, style=circles, color=tc)
bgcolor(ribm?bfrC:na, transp=50)
barcolor(ebc?bfrC:na)
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Kommentare

Hey @LazyBear this is such a great indicator. is it possible to add alerts to it for when the trend direction changes?
+1 Antworten
http://fxcodebase.com/code/download/file.php?id=4220&%3Bmode=view

A two indicator with separate Constants crossover seems to have merit.
Antworten
LazyBear cooney_s
Thanks for the info.
Antworten


I plugged in a couple of Constants that I use....0.739 and 0.886. And these to the default for a Multi Time Frame effect which will confirm your bias in trade direction. I offer just a simple example of how 1.) When all three signals agree its safe to look for trades in that directional bias short or long. 2.) Once a bias is established, look for value in divergence price bars that close against the perceived trend. 3.) Mark the closing price where the 3 signals agree with a horizontal ray...best trades are those with no draw down due to good timing execution which usually takes place AFTER a test/retrace. This example shows how the given signal offered a trading range of over 3% to work Long trades.
+4 Antworten
I had a similar idea to compare the indicator by itself and tested this by only changing the periods not the constant and this really works to filter out the strongest trend.
Antworten
cooney_s GermanTrader
Off the top of my head I think it would be better to keep the periods the same, this way its apples to apples. I"ve done some work with other indi's that have this same ability. Proves to be better this way, at least in the MTF fashion, getting all three speeds to compliment each other is the advantage in the signal.
+1 Antworten
LazyBear cooney_s
Nice. I built this as a separate indicator, but I like how visual yours looks.

+6 Antworten
Any chance of releasing this as well?
+5 Antworten
could u please explain how different is it from "CM_Ultimate_MA_MTF_V2"
Antworten
Ultimate_MA is MA with coloring based on the direction (so, the lag depends on the MA calculation).

CTI is primarily for trend filtering. I'd suggest not to use it as a xMA (EMA/SMA/WMA/...) replacement.
+1 Antworten
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