Market Shiksha-Trend Check for Amibroker

Trend catcher is a useful indicator for taking the trading decisions,, one can build many strategies using this as a base indicator. Combine this as a reference tool for Candlestick Patterns(not every pattern is successful,, check the trend first) or use it with Support & Resistances,, Gaps,, Fibonacci Retracements,, e.t.c,
For example:-
1). When Both the Lines r Green and above Zero & Histogram also turns Green, means Everything +ve,, go for Bear Hunting. Vice-versa for Bull Hunting. Use Support-Resistance lines for added confirmation.
2). Lines above zero means +ve bias and both below zero means -ve bias, Use pullbacks alongwith Candlestick reversals such as Hammers, Engulfings or Inside bars, e.t.c,,
Many more things to Explore, U can adjust the settings to suit ur requirement,, default is EMA. Remember nothing comes easy,, one definitely needs to put in some effort.
Hope the Indicator helps.
Criticism is Welcome.

_SECTION_BEGIN(\”Trend Check\”);
p= Param(\”shortperiods\”,15,2,300,1);
e1= EMA(C,p);
p2= Param(\”medperiods\”,25,2,300,1);
e2= EMA(C,p2);
p3= Param(\”longperiods\”,35,2,300,1);
e3= EMA(C,p3);
d1= e1-e2;
d2= e2-e3;
df= d1-d2;
Plot(d1,\”Minor\”,IIf(d1>Ref(d1,-1) AND d1>d2,colorGreen,IIf(d1>Ref(d1,-1) AND d1d2,colorYellow,colorBlue)))),styleLine);
Plot(d2,\”Major\”,IIf(d2>Ref(d2,-1) AND d1>d2,colorGreen,IIf(d2>Ref(d2,-1) AND d1d2,colorYellow,colorBlue)))),styleLine);
Plot(df,\”Trend\”,IIf(df>Ref(df,-1) AND df>0,colorGreen,IIf(df>Ref(df,-1) AND df<0,colorYellow,IIf(df<Ref(df,-1) AND df<0,colorRed,colorYellow))),styleHistogram);
_SECTION_END();