AFL for Trend Intensity Index (TII)

AFL for Trend Intensity Index (TII)

This Amibroker script is designed to provide Trend Intensity Index (TII) in Amibroker

TII oscillates around 50% line in the range from 0 to 100%. The TII readings above 80% are considered as an indication of a strong bullish trend and TII readings below 20% are considered as an indication of a strong bearish rend. The movement of Trend Intensity Index toward 50% line (center line) would suggest weakening of the current trend.

Script:

sel_field = ParamField( “Field”, field = 3 );
period = Param( “Period”, 14 );
EMA_period = Param( “EMA Period”, 9 );

function TrendIntensityIndex( period, sel_field )
{
deviation_period = 0;

if( period % 2 == 0 )
{
deviation_period = period / 2;
}
else
{
deviation_period = ( period + 1 ) / 2;
}

deviation = sel_field – MA( sel_field, period );

TII = Null;

for( i = period * 2; i < BarCount; i++ )
{
SDpos = 0;
SDneg = 0;

for( j = 0; j < deviation_period; j++ )
{
if( deviation[i – j] > 0 )
{
SDpos = SDpos + deviation[i – j];
}
else
{
SDneg = SDneg + deviation[i – j];
}
}

TII[i] = ( ( SDpos ) / ( SDpos + abs( SDneg ) ) ) * 100;
}

return TII;
}

TII = TrendIntensityIndex( period, sel_field );
signalLine = EMA( TII, EMA_period );

SetChartOptions( 0, 0, ChartGrid20 | ChartGrid80 );
Plot( TII, “Trend Intensity Index”, colorBlack );
//PlotOHLC(TII,TII,50,””, IIf(signalLine > 50,colorLightBlue,colorLightOrange),styleCloud | styleClipMinMax, 20, 80 );

Plot( signalLine, “Signal”, colorRed, styleThick );

PlotGrid( 80, colorLightBlue, 9, 2 );
PlotGrid( 20, colorAqua, 9, 2 );