Itrend Signals: Combining Bollinger Direction with Elder Power

Summary

The Itrend indicator combines two lines to describe trend direction and strength. Its red line is calculated from Bollinger Bands, while its blue line draws on Alexander Elder’s Bears Power and Bulls Power indicators. The document gives directional interpretations: a rising red line above zero signals bullish conditions, and a falling red line below zero signals bearish conditions. Blue-line movement is presented as confirmation of strengthening trends when it aligns with those signals.

Settings include the input price, the Bollinger line used, and its period and deviation; the strength line also has a period setting. The text describes indicator interpretation and configuration, but offers no chart examples, performance evidence, or guidance for entries, exits, and risk controls. These signals therefore explain how to read the indicator, not whether it is profitable or how it should be used in a complete trading system.

Key ideas

• The red line uses a Bollinger Bands calculation to indicate trend direction.
• A rising red line above zero is interpreted as bullish, while a falling line below zero is interpreted as bearish.
• The blue line is based on Elder’s Bulls Power and Bears Power calculations.
• Aligned movement in the blue line is described as confirmation that a trend is strengthening.
• The indicator’s settings include the input price and parameters for both component calculations.

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