PsyIndicator: Measuring the Share of Rising Bars

Summary

PsyIndicator is a cloud-style trend indicator that measures price increases over a chosen lookback period. Its value ranges from zero to one hundred percent, representing the share of prior bars in which the asset price rose. For example, a reading of 100 over a 25-bar period means every one of those bars showed an increase.

The description explains the indicator’s interpretation but gives no calculation details beyond that concept, chart evidence, performance results, or guidance for choosing a period or trading thresholds. It says the indicator was first implemented in MQL4 and published in 2008. Traders should treat the reading as a simple summary of recent bar direction; the text does not establish that it predicts future returns or works as a standalone signal.

Key ideas

• The indicator summarizes the fraction of bars in a lookback period with rising prices.
• Its displayed range is zero to one hundred percent.
• A reading of 100 means all bars in the selected period rose.
• The description provides no evidence of predictive performance or trading rules.

Tags

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