Trend Continuation Factor for Amibroker (AFL)
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 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.
Submitted by bsedoha 3 months ago
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