A Multi-Horizon Trend Checker Using Price Comparisons
Summary
The Trend Checker indicator displays directional readings across as many as eight user-selected lookback periods. For each active row, it compares a chosen price value on the current bar with that value from the specified number of bars earlier. A higher reading produces an upward signal and a lower reading a downward signal; equal values produce neither. Users can disable rows and choose among close, open, and several derived price series.
The period settings must be matched to the chart timeframe. The document gives examples of mapping bar counts to hourly, daily, weekly, monthly, and yearly horizons, allowing short and long trends to appear together. The indicator is described as usable across markets and timeframes, but it offers no backtest, entry or exit rules, or evidence that the signals are profitable. It is a visual trend comparison tool, and its interpretation depends on the selected price input and lookback periods.
Key ideas
- The indicator compares the selected current price with its value at each chosen lookback bar.
- Upward and downward comparisons are shown with colored arrows across up to eight rows.
- Users can choose different price inputs and disable rows by setting their periods to zero.
- Lookback lengths need to be adjusted to the chart timeframe to represent intended horizons.
- The document describes a visualization tool but provides no trading rules or performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.