Indicator
signal
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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
).
- If the indicator identifies an uptrend, it plots the Up line (cyan) and sets
- 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.
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