This is an updated double dynamic digital filters trend score with the latest averages used for smoothing the digital filters. With this version there is a choice with colors on middle line cross, upper/lower levels cross, or slope. Screenshot showing smoothing with 35 period triple smoothed ema variation on outer levels cross and lower screenshot is the same except middle line cross.
What is the Trend Score?
Chande's Trend Score compares Close prices between last Close with previous Closes by a period of time, depending on the timeframe.
The indicator is similiar to the Momentum but:
- Gives a score +1 when Close price is equal or above the default length
- Gives a score of -1 if the indicator is below the default length.
The Trend Score indicates both the direction and strength of a trend.
