Level: 1
Background
M.H. Pee developed the Trend intensity index (TII) indicator to measure the strength of a trend in the market.
Function
In this pine script, it uses the current 55-bar moving average for the measurements. TII looks at the proportion of prices of prior 34 bars being above or below today’s 55-bar moving average. The purpose of the TII...
Hi guys,
This is my first public script on TV. I was just messing about with some simple ideas and I noticed that the difference between a signalLine and the TrendIntensity line was (potentially and theoretically) a good way of spotting a ranging market.
I was initially just going to release Evergets version of this with a histogram and a signal-line, but I...