Power Trend Indicator?

[Chorlton]

Hello All,

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...

Chorlton

 

[Chorlton]

Hello All,

Just thought I'd post the same question again as unfortunately I didn't get any replies last time

Just interested in whether anyone had read Chris Tate's book (Art of Trading) and whether anyone uses his "Power Trend" indicator or a variation of it???

Thanks in advance,

Chorlton