The Half Trend indicator is designed to detect and highlight potential trend reversals by comparing recent highs and lows over a specified period, then plotting an “Up” or “Down” line accordingly. It optionally draws arrows at each trend change and can display pip differences between signals.

• High/Low Series Selection
  • The indicator uses two price series (High and Low by default) to track local maxima and minima.
  • You can select different price types (e.g., Open, Close, Median, etc.) for each series via Maximum Price and Minimum Price.
• Moving Averages & Period Calculation
  • A moving average (based on the chosen Smoothing type and Amplitude period) is applied to both the selected “high” and “low” price series.
  • The indicator compares current bar prices against these smoothed high/low levels to decide whether to switch from an uptrend to a downtrend (or vice versa).
• Trend Detection & Plotting
  • If the indicator identifies an uptrend, it plots the Up line (cyan) and sets Trend to +1.
  • If it detects a downtrend, it plots the Down line (magenta) and sets Trend to -1.
  • The Main output (gray) updates internally to reflect the current support/resistance levels.
  • Trend is an invisible output series storing the trend direction numerically (+1 or -1).
• Arrows & Pip Calculation
  • Show Arrows? – If enabled, the indicator draws an arrow on each new bar where a trend reversal is detected.
  • Show Pips? – If enabled, it calculates and displays the pip difference between the last signal and the new signal, drawing a small label and a trendline on the chart.