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Profile: treva.meads
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User Name: treva.meads
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Joined: Saturday, January 29, 2011
Last Visit: Thursday, August 30, 2012 4:54:33 PM
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Topic: John Carter Trend Indicator
Posted: Wednesday, August 29, 2012 9:06:24 AM

I worked with it a little.  Is this the correct PCF condition:  c >=.5 * ((O1 + H1 + L1 + C1 + O2 + H2 + L2 + C2 +O1 + H1 + L1 + C1  +O4 + H4 + L4 + C4) /16)

It isn't giving the %True representation that I expected but that is another story.  I'll keep working on it.

Thanks,

Topic: John Carter Trend Indicator
Posted: Tuesday, August 28, 2012 8:35:51 PM

I found this description of Carter's Trend Indicator using Heiken=Ashin:

"Basically using Hiken Ashi bars if the 5th bar of the last 5 bars closes above  the 50% line of  the previous 5 bar average, it stays the same color. If the 5th bar closes below the the 50% average it changes color."

If this is enough information and it is possible in V12.2 I would appreciate your writing a Custom %True Indicator  that it points true when the  "5th bar of the last 5 bars closes above  the 50% line of  the previous 5 bar average" condition exists.