File Includes: Indicator - TD-7
Category: Indicator > Miscellaneous
This indicator plots a 6-period average of the Tick Difference for 7 bars. The Tick Difference is calculated as the difference between UpTicks and DnTicks for 7 bars, after which it is smoothened by a 7-period WMA.
This tick-based oscillator used to identify turning points in any market.
VALUE2 = WAVERAGE(VALUE1,6);
PLOT1(VALUE1,"TICK DIFF 7");
PLOT2(VALUE2,"DIFF CURVE 6");