A High-Low Trend Indicator Based on Candle Changes

Summary

The document describes a simple trend indicator based on changes in candle highs and lows over a selected period. It counts candles whose highs increased and candles whose lows increased, then uses the difference between these counts, normalized by the period, to form an indicator value.

The explanation provides the calculation concept but no chart details, tests, trading rules, or performance evidence. It does not specify how to interpret thresholds or handle ties and missing bars, so the indicator should be treated as a descriptive input rather than a validated standalone strategy.

Key ideas

• The indicator compares counts of rising highs and rising lows over a chosen lookback period.
• Its value is the difference between those counts scaled by the period.
• The document gives no entry rules, validation results, or guidance for interpreting indicator values.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.