TrendSpider Software Update: Three New Indicators Added
At TrendSpider, we are constantly working on adding new, useful features to our platform as well as updating and improving the ones we currently have. In this blog post, we take a look at the addition of three new indicators. Enjoy these new features and improvements!
The Williams Fractal is an indicator, developed by Bill Williams, that aims to detect reversal points (highs and lows) and marks them with arrows. Up fractals and down fractals have specific shapes. The Williams Fractal indicator helps users determine in which direction price will develop.
Note for Alerts and Backtests Fractals:
Fractals are back testable (just like all the other indicators), but you must specify the offset (3 candles ago) in order to make the backtester working correctly. That’s because the Fractal is identified as a pattern of 5 candles, but the peak marker is placed “in past” (not on the last candle of a formation, but on the middle one).
So in case you want to define the Fractal-based criteria for purpose of alerts or backtester, then you do like “Will Fractal, Bull (3 candles ago) is Greater Than 0”.
Relative Vigor Index
The Relative Vigor Index (RVI) is a technical analysis indicator that measures the strength of a trend by comparing the closing price to its trading range and smoothing the results. It’s based on the tendency for prices to close higher than they open in uptrends and to close lower than they open in downtrends.
Smoothed Moving Average
The Smoothed Moving Average (SMMA) is similar to the Simple Moving Average (SMA), in that it aims to reduce noise rather than reduce lag. The indicator takes all prices into account and uses a long lookback period.