My attempt to replicate the functionality of the 'LT Trend' based on information available in Alessio Rastani's videos.
Turn off borders and wicks, and make the bodies transparent, on the chart itself) in order to view the OHLC bars with my guess at the way the LT Trend interprets the price data.
I believe the basis indicator is a combination of the 2 and 11 day EMA. that is what my trend indicator is based on. I have also added 5 moving averages to this indicator based on their usefulness. the included MAs are the 8, 21, 50, 100 Exp MAs and the 200 Simple MA. the line graph of the close price is also included (to use for triggering) but I usually turn it off in the MT trend settings.
This version also has a version of the PerfectCDA buy signals included as i am testing that at the moment. PCDA appears to throw a signal if the average of the last 9 closes changes more than 5% from the previous value.
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Added a title to the PerfectCDA portion of the code so that turning it on and off is more clear.
So basically he tells the trend by assess whether SMA 2 is higher than SMA 11? Is that really all? I mean... I'm really interested in your work, and I appreciate and thank you for that effort. But how did you derive that Alessio used only this criteria to build the LT Trend? Is there any way to prove that this is it?
raalphh
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Nice!!! how to turn on the PerfectCDA feature?
sisfs
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@raalphh, I have added a title to the PerfectCDA portion of the code so that it's clear in the indicators settings which settings turns the feature on or off.
raalphh
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@sisfs, Figured that out but thanks for the update!