This is the Trend Analysis Index which was coded by Mladen for MT4 & is a solid-performing, non-repainting indicator which is suitable for novice traders who are trying to learn how to trade trends and time entries. Even though it was coded back in 2011, a handful of the Forex-TSD traders like fxnewbie began using this over the traditional MACD.
As explained by Mladen:
Trend Analysis Index
This one was initially developed a long time ago (by Adam White), but my search for it on Metatrader did not give any results, so here it is for Metatrader 4 too ...
PS: Default Ma Length in the original is 20 but I decided to use 10 instead. Also, the original uses simple moving average for calculation (MaMode 0) but you might experiment with different modes - might give interesting results (like the example bellow : EMA mode (MaMode 1) and TaiLength 10). So, now we have it for metatrader too. At a first glance it looks useful. Maybe it helps someone in trading
