[CD] Trend Intensity Indicator TII
https://www.tradingview.com/chart/QrOLGYtR/
Trend Intensity Index (TII) was developed by M.H. Pee and it is used to measure the strength of a trend of a sock, ETF , index or any other tradable security. The TII indicator uses RSI principles of calculation applied to the closing price deviations instead of the closing prices. In technical analysis Trend Intensity index is used to generate trading signals on assumption that the stronger current trend, the more likely analyzed stock (index, ETF , etc.) will continue moving in the direction of the current trend.
TII oscillates around 50% line in the range from 0 to 100%. The TII readings above 80% are considered as an indication of a strong bullish trend and TII readings below 20% are considered as an indication of a strong bearish rend. The movement of Trend Intensity Index toward 50% line (center line) would suggest weakening of the current trend.
I added EMA cross of TII.
Here's a video how to use it along with RSI to filter signals
www.youtube.com/watch?v=_KFXNpkN...
Play with settings for the optimum results.
Click like and make it favorite so you can use it.
Trend Intensity Index (TII) was developed by M.H. Pee and it is used to measure the strength of a trend of a sock, ETF , index or any other tradable security. The TII indicator uses RSI principles of calculation applied to the closing price deviations instead of the closing prices. In technical analysis Trend Intensity index is used to generate trading signals on assumption that the stronger current trend, the more likely analyzed stock (index, ETF , etc.) will continue moving in the direction of the current trend.
TII oscillates around 50% line in the range from 0 to 100%. The TII readings above 80% are considered as an indication of a strong bullish trend and TII readings below 20% are considered as an indication of a strong bearish rend. The movement of Trend Intensity Index toward 50% line (center line) would suggest weakening of the current trend.
I added EMA cross of TII.
Here's a video how to use it along with RSI to filter signals
www.youtube.com/watch?v=_KFXNpkN...
Play with settings for the optimum results.
Click like and make it favorite so you can use it.