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BMTRIX Intermediate Term Market Trend Indicator for Amibroker (AFL)
Rating:
5 / 5 (Votes 1)
Tags:
amibroker
This is a variation of the trix. I’m using a TEMA instead of an EMA like in the original formula. I use a 45 day version, as it tends to call the intermediate term trends fairly well. Above 0 is a bull trend, below 0 is a bear trend.
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Indicator / Formula
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period = 45;
//Change the foreign symbol for your own market
C = Foreign("COMPQX", "C");
Trixline=TEMA(TEMA(TEMA(ROC(C, 1), period), period), period);
Plot(Trixline, "TRIX", colorBlue, styleHistogram);
"The bmTRIX is indicating a " +
WriteIf(Trixline > 0, "bullish", "bearish") +
" market environment because it is " +
WriteIf(TrixLine > 0, "above", "below") +
" the zero line.\n";0 comments
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