I have taken this above suggestion and modified Squire69's code a little bit to include a Yellow color for "no trend". I have compared my version to the TradeTheMarket's TTMTrend and I like my version better.
For those who maybe interested (see below).
I am also wanting to find some kind of indication that the trend may be extrended and paint it with a different color (one for up, one for down). Any idea what might be used?
= = = = = = = = = = =
inputs:
Price( Close ),
FastLength( 9 ),
MidLength( 12 ),
SlowLength( 16 ),
UpColor( Green ),
NoTrendColor( Yellow ),
DnColor( Red );
variables:
FastAvg( 0 ),
MidAvg( 0 ),
SlowAvg( 0 ) ;
FastAvg = Average( Price, FastLength ) ;
MidAvg = Average( Price, MidLength ) ;
SlowAvg = Average( Price, SlowLength ) ;
if (FastAvg > MidAvg) and (MidAvg > SlowAvg) then
begin
PlotPaintBar( High, Low, "MACross", UpColor ) ; // This is Uptrend
Alert( "FastAvg above SlowAvg" ) ;
end
else if (FastAvg < MidAvg) and (MidAvg < SlowAvg) then
begin
PlotPaintBar( High, Low, "MACross", DnColor ) ; // This is Downtrend
Alert( "FastAvg below SlowAvg" ) ;
end
else
PlotPaintBar( High, Low, "MACross", NoTrendColor) ; // This is No trend