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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.
Since there already are many explanation 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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