Description

The Goersch_Trend indicator shows in the selected time setting the prevailing prevailing trend direction, as well as the trend strength in the ratio.

Calculation basis

For the calculation of the bar height the change of a price change index is is taken as a basis. This is calculated from the respective candle closing price and the True-High or True-Low of the previous candle which is added or subtracted accordingly.

From this price change index, a long-term moving average is calculated, the difference between this average and the price change index is visualized by the red and green and green bars.
The great advantage of this indicator is that it is not necessary to use different basic instruments or different time units, it is not necessary to choose different basic settings. choose. The indicator is programmed in such a way that in the basic setting it automatically adapts itself to the conditions of the opened chart.

The calculation automatically adjusts to the displayed time level. Thus an interpretation is always the same – no matter if you are looking at a stock, a currency, an index or a commodity. Regardless of whether you are working in the 5-minute chart, hourly, daily or even weekly chart. or even weekly chart. It is very easy to judge if a value is running in a trend, if the trend, whether the strength of the trend is increasing (i.e. stable) or decreasing (i.e. the trend is weakening), or whether the trend is weakening), or whether the trend is about to change.