Yet another trend follower that is based on a very simple principle: Take the highest high and lowest low from a user defined bars back period, do an average between them and smooth them up with 3 possible moving averages, VIDYA, EMA and SMA, while VIDYA is the default. What is VIDYA ? Variable Index Dynamic Average (VIDYA) is similar to the Exponential Moving Average (EMA), but automatically adjusts the smoothing weight based on price volatility.
How to use: GREEN : Up trending LIGHT GREEN : Up trend reversal might occur. RED : Down trending LIGHT RED : Down trend reversal might occur.