Has anyone heard of, or better still actually used the above indicator??
I was recently reading a book by Chris Tate, which in it, he mentions the use of this indicator. The indicator is plotted as a histogram and apparently measures the err.... power/strength of a trend!!!
I have tried to google this indicator to gain a better understanding of it but unfortunately there doesn't seem to be too much written about it. Ideally, I'm looking for some form of break-down to understand how this indicator is derived so that I can code it into my software.
Normally, I do not use indicators in my trading but recently I have become interested in creating a pure mechanical system which I can use in parallel with my current trading methods.
Any help much appreciated...