The TriggerLines trend indicator draws two moving average lines colored in accordance with the trend direction:
- Up - green;
- Down - red.
The indicator has three input parameters:
- Period - calculation period (line 1);
- Smoothing - smoothing period (line 2);
- Applied price - price used for the calculation of the two lines.
Calculations:
WT = 6.0 * sum / K
Signal = EMA(WT, Smoothing)
where:
sum = sum of (LV * Applied price) over the Period range
LV = (Period+1)/3
K = Period * (Period+1)