BrainTrend is a very popular Indicator, the calculation is based on Stochastic Oscillator and Average True Range (ATR).
Stochastic Oscillator is based on the observation that as prices increase, closing prices tend to be closer to the upper end of the price range. In downtrends, the closing price tends to be near the lower end of the range.
ATR calculates the average of true price ranges over a time period. The True Price Range is defined as the greatest of distances between today's high to today's low, yesterday's close to today's high, and yesterday's close to today's low. The Average True Range is a moving average of the True Range over a specified period of time.
There are 7 parameters available for you to adjust the BrainTrend Indicator.
stoch_period
stoch_max
stoch_min
atr_current_norm_factor
atr_before_norm_factor
atr_period
atr_before_step
Since there already are many explaination and details about this indicator, we don't repeat it here.
It works on all time frame(Tick, Minutes, Daily, Weekly, Monthly) and all markets(Stocks, Futures, Forex, Options,ETF, etc.)
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