In the top indicator I have explained the blue line as the 20 day average of closes minus opens which still shows over estimation of daily performance.
The yellow line is 20 days of +1 for an up day (closes only) and -1 for a down day.
Neutral is not zero for either of these indicators but not far away.
These are good trend indicators when they work in concert.
Sometimes you get a large degree of seperation with one well above neutral and the other way below. That invariably leads to a period of waffling about or corrective action against the trend until they closer align.
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- friday noir
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