THV Coral: A Smoothed Price Line for Trend Direction

Summary

The document describes THV Coral, a forex-oriented indicator presented as a trend direction signal or filter. It applies a cascade of six recursive smoothing stages to closing prices, then combines intermediate outputs into a single Coral line. The line is colored according to whether its current value is above or below its previous value, giving a simple rising-versus-falling direction cue. The provided implementation is adapted from a Pine Script version for another charting language.

The article gives the calculation procedure and parameter values, but reports no market tests, entry or exit rules, or evidence that the indicator predicts returns. Its comparison to Parabolic SAR is a loose description; the displayed calculation is a smoothed price filter rather than a demonstrated stop-and-reversal system. The line’s direction can therefore be read as an indicator state, not as proof of a profitable strategy. The remaining text concerns website privacy practices and does not add trading guidance.

Key ideas

• THV Coral derives a trend line from repeatedly smoothed closing prices.
• The indicator signals direction by comparing its current value with its previous value.
• Its intended role is a forex trend cue or filter, rather than a complete trading system.
• The document supplies no tests, performance results, or rules for acting on the signal.

Tags

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