//+--------------------------------------------------------------------+ //| TII_RLH | //| Copyright © 2006, Robert Hill | //| http://www.metaquotes.net/ | //| | //| Based on the formula developed by M. H. PEE | //| | //| Trend Intensity Index. | //| | //| TII is used to indicate the strength of the current trend in the | //| market. The stronger the current trend, the more likely the | //| market will continue moving in the current direction. | //| It is recommended to enter the market during a strong trend | //| and ride it until TII shows signs of a reversal, at which time | //| you should abandon your position and prepare to enter in the | //| opposite direction. | //| Pee recommends using a major period of 60 and a minor period of 30.| //| Assuming these setting, TII is calculated as follows. | //| The 60 bar simple moving average (MA) is computed. | //| The deviation between the closing price and this computed average | //| for each of the last 30 bars is computed (CL - MA). | //| Positive deviations (CL > MA) are summed to give SDPOS. | //| Negative deviations (CL < MA) are summed to give SDNEG. | //| Then, the 30 period TII is calculated as: | //| 100 * SDPOS / (SDPOS - SDNEG). | //| TII ranges from a lower limit of 0 to an upper limit of 100 | //| A TII value above 50 signals an uptrend | //| A TII value of 80 means that 80% of the total deviations are up | //| When TII fall below 50, a downtrend is likely in place | //| 50 represents a level that is trend-neutral | //| The closer TII is to 100, the stronger the current uptrend | //| The closer TII is to 0, the stronger the current downtrend | //| | //+--------------------------------------------------------------------+ #property copyright "Copyright © 2006, Robert Hill " #property link "http://www.metaquotes.net/" //---- indicator settings #property indicator_separate_window #property indicator_buffers 1 #property indicator_color1 Red #property indicator_width1 2 extern int Major_Period = 60; extern int Minor_Period = 30; //---- buffers double ma[]; double ma_dev[]; double tii[]; //+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ int init() { //---- drawing settings IndicatorBuffers(3); SetIndexStyle(0,DRAW_LINE); SetIndexDrawBegin(0,Major_Period); IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS)+2); //---- 3 indicator buffers mapping if(!SetIndexBuffer(0,tii) && !SetIndexBuffer(1,ma_dev) && !SetIndexBuffer(2,ma)) Print("cannot set indicator buffers!"); //---- name for DataWindow and indicator subwindow label IndicatorShortName("TII("+Minor_Period+")"); //---- initialization done return(0); } int start() { int i,j, limit; double sdPos, sdNeg; int counted_bars=IndicatorCounted(); if(counted_bars>0) counted_bars--; limit=Bars-counted_bars; for(i = limit; i >= 0; i--) { ma[i] = iMA(NULL,0,Major_Period,0,MODE_SMA,PRICE_CLOSE,i); ma_dev[i] = Close[i] - ma[i]; } //========== COLOR CODING =========================================== for(i = 0; i <=limit; i++) { sdPos = 0; sdNeg = 0; for (j=i;j= 0) sdPos = sdPos + ma_dev[j]; if (ma_dev[j] < 0) sdNeg = sdNeg + ma_dev[j]; } tii[i] = 100 * sdPos/(sdPos - sdNeg); } return(0); } //+------------------------------------------------------------------+