HammondB3

B3 Directional Trend Index

B3 Directional Trend Index ~ All about the trend! William Blau is the designer of this gem, and IMHO it is the best trend finder of all the lagging indicators out there I have tested. It is important to pay attention to the slope and thickness of the line, and its relationship to zero. A reversion to the zero may look momentous, but in fact it could reverse when it reaches mean, only to turn back around. You can see this in March and April of this silver futures daily chart . Makes for a great instrument on anything you consider trendy, like crude oil for example. The default user inputs are set to my liking, as I find them to be great on all charts and resolutions. You may read around to find more about this on the internet, or its mentioned in Krausz's work. Also, imprtant to remember when no trend, trend finders like this sufffer, so be wise as to what market condition you are in. Rangy and within Range = no, On the Move = yes.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Комментарии

this is a wonderful divergence detector - thanks!
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HammondB3 Hociemocie
@Hociemocie, you're welcome. I am developing some strategies based on some of my indicators, to release in the next week or so. DTI included!
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today it is impossible use it.
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Great indicator!
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Thanks @amolpatilaaa5!

@gianfranco60, I hear ya, and any day when the trends aren't following through (developing a range), this is when DTI or momentum indicators in general suffer. A good second indicator is ADX, as it will tell you when the energy of the market is low.
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very nice
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This is very wonderful indicator
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HammondB3 Lijarani123
@Lijarani123, You can read more about it in ROBERT KRAUSZ’S Fibonacci Trader Volume 2 Issue 1. It has a way of A. calling out divergence, and B. showing turns at your levels (which may or may not be Fibs) for higher probability entries. Glad you like it, I simply painted it pretty, not my math :)
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