Here's an interesting indicator I picked off at the TS forum. It's a slightly modifed version of the heikin ashii indicator.

So What Does It Do?

If the 5th bar of the last 5 bars closes above the 50% line of the previous 5 bar average, it stays the same color. If the 5th bar closes below the the 50% average it changes color.

50% range = Average True Range

It really depends on how you want to use it. This can be applied on multiple timeframes. Its a great way to visually see the trend of the market.

Screenshot is attached.

[Horus]

Its not related to the indicator! I have loaded it without a problem on about 3 machines here.

[godman]

works for me! thank you for posting!

[ratrader]

Excellent work. I have a chalange for you... add the ability to use an anchor chart. For example if you have a 5 minute and a 15 minute only paint a red, or blue, bar on the 5 minute chart in the bar is confirmed on the 15 minute chart.

Robert

[ratrader]

I would like to do a comparison between the TTM version (purchased) and this one could you please prove the code (so I can rename it) or an ELD version using a different name...

Thanks

[sevensa]

Originally Posted by ratrader »

Excellent work. I have a chalange for you... add the ability to use an anchor chart. For example if you have a 5 minute and a 15 minute only paint a red, or blue, bar on the 5 minute chart in the bar is confirmed on the 15 minute chart.

Robert

Why don't you take up the challenge?

[ratrader]

Sorry if I offended I was hoping you know how as I have not been able to figure it out yet.