The Chandes Trendscore indicator was created by member forum member Elliot Wave in this thread
Description: TrendScore was described by Tushar Chande in the September 1993 edition of 'Stocks & Commodities' magazine.The TrendScore attempts to make a quantitative and qualitative determination of the direction and strength of a market trend by comparing the current close price to previous close prices over the last 20 periods. Interpretation: The TrendScore indicator oscillates between +1 and -1. A +1 reading indicates a strong uptrend is underway. A -1 reading indicates a strong downtrend is underway. Readings above 0 suggest an upward trend of varying strength and readings below 0 suggest a downward trend of varying strength.
|File Size||2.0 KB|
|# of Downloads||147|
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