Anyone Know What This is Please?

[maxr 10]

[First, I hope I'm posting this in the correct part of the Forum, I'm fairly new here]

 

Does anyone recognise the dotted indicator on the attached chart as a freely available one? The company that market this repackage several 'public' indicators

 

A friend suggested that it's a moving average sum - subtract a short value MA from a long one at any point, then total that with the current price and plot the value. Rising price would result in the short MA having a higher value at any point than the long MA , so you'd get a negative sum and a plot below current price. Falling price would do the opposite, so the resultant line would be below price for long and above it for short, coded blue for a -ve value sum and red for a +ve value sum.

 

Thanks, Max

Edited May 11, 2009 by maxr
Additional info

[Tams 20]

probably a derivative of TRIX.