OPEN-SOURCE SCRIPT
Trend Trigger Factor T3
Trend Trigger Factor was described by M.H. Pee in the Technical Analysis of Stocks and Commodities magazine in December, 2004.
From the author:
The TTF (Trend Trigger Factor) will help you long in an uptrend and short in an downtrend. This indicator allows you to follow the trend and capitalize on that rare nonrandom trend component of the markets.
Basically it calculates range from highest high and lowest low on 2 different time periods: a recent one and an older one, called buypower and sellpower and then apply the formula:
100*(BuyPower-SellPower)/(0.5*(BuyPower+SellPower))
to calculate the TTF.
The trend trigger is made with a fixed levels (that you can change in the setting), when the TTF is over the upper level, the trend is up and when it’s below the lower level, the trend is down.
In this version the TTF value is smoothed with a Wilson’s T3 average.
Thanks for the work of Nicolas @ prorealcode.com
From the author:
The TTF (Trend Trigger Factor) will help you long in an uptrend and short in an downtrend. This indicator allows you to follow the trend and capitalize on that rare nonrandom trend component of the markets.
Basically it calculates range from highest high and lowest low on 2 different time periods: a recent one and an older one, called buypower and sellpower and then apply the formula:
100*(BuyPower-SellPower)/(0.5*(BuyPower+SellPower))
to calculate the TTF.
The trend trigger is made with a fixed levels (that you can change in the setting), when the TTF is over the upper level, the trend is up and when it’s below the lower level, the trend is down.
In this version the TTF value is smoothed with a Wilson’s T3 average.
Thanks for the work of Nicolas @ prorealcode.com
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