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Excellent.
You said PriceLength is used to determine the moving average for the trend. May be a dumb question but how does that work? Does this mean we can adjust the sensitivity, i.e. when the trend bars change color?
I was looking at a few volume "share bar" candle charts with this indicator. It appears to be working correctly with those too. Also I was thinking that your above explanation would be good to include inside the eld. Maybe a little credit for yourself too.  Nothing wrong with putting your name on your work. |
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Yes, a longer PriceLength will find longer more sure trends, will but have a larger lag. A shorter PriceLength will locate trends faster, but will give more false signals. Such is the nature of trendfinding.
This indicator considers it a change to a downtrend when a point on the moving average is lower than the previous point, and a change to an uptrend when a point is higher than the previous point.
I will upload a new version soon with the comments, and also with a new option to allow determining the moving average price by something other than Close. e.g. (High+Low+Close)/3. This was a feature I neglected to add.