Trend Intensity Index indicator script. This indicator was originally developed by M. H. Pee (06/2002 issue of Stocks and Commodities Magazine)
This is an experimental study designed to analyze trend intensity using two Donchian Channels. The DCTI curve is calculated by comparing the differences between Donchian highs and lows over a major an minor period, and expressing them as a positive and negative percentage. The curve is then smoothed with an exponential moving average to provide a signal...
This study is a simple variation of M. H. Pee's Trend Intensity Index that includes two signal lines rather than one for additional trend confirmation.