Hello Everyone, and welcome to another Software Update from TrendSpider. In this release, we introduce five new indicators for you to explore. Details after the jump.
We’ve heard your requests loud and clear and we’re happy to announce the beginning of a new indicator rollout on the platform. The indicators included in this release are just the first of many more to come and are available for Charting, Scanning, Alerting and Backtesting.
Let’s explore them one by one:
The ATR Percentage indicator illustrates the percentage between the Close Price and the ATR and also features a moving average, for smoothing. Signals can be ascertained by the interaction of the ATR Percentage line and the Smoothed Moving Average. The default settings for this indicator are as follows:
- Length: 14
- Smoothing MA: 5
- MA type: SMA
ATR Channels (Stoller Average Range Channel)
The ATR Channels indicator plots a set of bands on your chart that act as a form of volatility band, in some ways similar to Bollinger Bands(r). The upper channel is colored green by default while the bottom channel is colored red. This indicator has a number of default parameters which include:
- MA Type: SMA
- MA Length: 20
- ATR Length: 14
- Multiplier 1: 1
- Multiplier 2: 2
LBR 3-10 Oscillator
The LBR 3-10 Oscillator is a variation of the MACD indicator pioneered and evangelized by a very well known trader, Linda Bradford Raschke. This is very similar to the MACD indicator, except it has slightly different moving averages and different default parameters:
- MA Type: SMA
- Fast: 3
- Slow: 10
- Signal: 16
- MA Type: SMA (Note: the original version by Linda Raschke uses Exponential Moving Averages, but you can easily change this in the settings when adding it to your charts.)
Camarilla Pivot Points
This indicator is a take on the classic Pivot Points indicator. It supports all intraday timeframe except for the 1m and generates a set of “stair step” lines on your chart. This indicator is used to define possible reversal points and ranges. The default settings are built into the indicator and cannot be changed. It will generate 8 lines on your chart, known as the S1, S2, S3, and S4 support levels along with the following resistance levels: R1, R2, R3, and R4.
- This indicator does not have any user-customizable parameters other than price source and color options.
Moving Average (MA) Distance Percentage
The Moving Average distance indicator calculates the distance between a predefined moving average and the most recent price on the chart. This allows you to quickly see how far price is, above or below, a pre-defined Moving Average in the form of a MACD-like oscillator. There is only one input parameter for this indicator and that is:
- MA Length: 10
If you’d like to know more about any of these new indicators and all the ways that you can utilize them on the platform, feel free to reach out to our support team by clicking on the ‘Contact Us’ button in the bottom left-hand corner of your charts. We have a team that’s live in chat about 20 hours per day, Monday-Friday, who can assist you with any platform-related questions you might have!