ToR 1.20 - Trending or Ranging
ToR 1.20
OK, the latest version of ToR now adds CCI on three timeframes, 1 min, 5 min and 15min
with both Entry and Trend user adjustable. The calculation is done price typical so it
will match up with woodie's CCI numbers.
OK, 1.11 was broken, if anyone has it delete it and use 1.12 instead or the new 1.20.
This indicator I originally wrote to simple tell between trending and ranging markets.
But now it's almost a little trading system in itself.
The next version will give plain text buy and sell signals in addition to what is shown in
1.20.
Other functionality remains the same.
This indicator shows you whether a pair is trending or ranging.
For trending markets use moving averages and for ranging
market use oscillators.
It shows ADX values for multiple timeframes to help you
decide which trading technique to use.
Sometimes you'll see short-term trends against the H4
and D1 trend.
Green is up, Red is down, Blue is ranging. There are two arrows
for both up and down depending on the strength of the trend.
There is a 45 degree arrow up and down for beginning trend and
a 90 degree arrow up and down for strong trends. The squiggly
lines represent ranging.
Also, it seems to me that in ranging markets you'll get conflicting
info from ADX on different timeframes.
Version: 1.20
1.20 - added CCI with two periods in 1, 5 and 15 min
1.12 - fixed some bugs in 1.11
1.11 - changed to "stronger" and "weaker", added 4 Hour
1.10 - added ADX increasing and decreasing notice
1.03 - adjusted spacing, fonts, unreleased
1.02 - added arrows, ranging icon, no zero space state
for icons/arrows, spacing got messed up, now
fixed
1.01 - unreleased, reduced number of colors, functional
1.0 - unreleased, too many colors for ADX values
Last edited by nittany1; 01-29-2008 at 01:39 AM.
Reason: Updated Version of Indicator
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