Hi all,

I came across this page that has an interesting indicator, called Trendiness indicator.

Breakout Bulletin - February 2003

The formula is very simple - EasyLanguage:

AbsValue(C - C[NBars])/Average(TrueRange, NBars);

Does anyone know if this exists for MT4? Also, does anyone have any experience with it, I mean how good it is for identifying trends?

Thanks