Black Friday great discounts start today Learn more
+1 888 340 6572

Miscellaneous > TD-7

Article/Author: U.Jensen for Omega Research, 1997

Download: TD-7.ela

File Includes: Indicator - TD-7

Category: Indicator > Miscellaneous

Description:

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.

Usage:

This tick-based oscillator used to identify turning points in any market.




EasyLanguage Code:
VALUE1=WAVERAGE ((UPTICKS-DOWNTICKS),7);

VALUE2 = WAVERAGE(VALUE1,6);

PLOT1(VALUE1,"TICK DIFF 7");
PLOT2(VALUE2,"DIFF CURVE 6");