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Trend Continuation Factor for Amibroker (AFL)

4 / 5 (Votes 4)

This indicate the strength of the Trend.

I am not the author of this indicator. This i got from web ; some time ago.

Details are as follow :
Positive values of either the +TCF and the -TCF indicate the presence of a strong trend.

Positive values of +TCF indicator a strong uptrend, while positive values of -TCF indicate a strong downtrend.

TCF & -TCF cannot both be positive at the same time, since both an uptrend & a downtrend cannot occur simultaneously. Both can be negative. if both are negative, this signifies consolidation, OR the absence of a trend.

It recommended to enter long positions when the +TCF value is positive, & enter Short positions when the TCF value is positive.

Here is a screenshot of how the indicator looks:
Chart

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2 Comments

Thanks for reposting. What parameter you have used in the supertrend.

2. morgen

Very good!!!

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