The iTrend oscillator is a client side VTL indicator useful for determination of start and end of trends. It is calculated from Bollinger Bands, Bulls Power and Bears Power components. The iTrend indicator comprises of two components, the bullish(BLUE) and bearish(RED) component. These bullish and bearish components oscillate around the center zero line.
Buying is advised when the bearish component has reached extremity above the zero line (positive) and
Bullish component has reached extremity below the zero line (negative). Conversely, selling is advised when the bearish component has reached extremity below the zero line (negative) and the bullish component has reached extremity above the zero line (positive).
In other words, blue lines above zero and red lines below zero indicate bullish trend, and blue lines below zero and red lines above zero indicate bearish trend.
The bullish component (blue) is calculated by subtracting the Bollinger Band value from the current price.
The bearish component (red) is calculated as the sum of the Bulls Power and Bears Power indicator multiplied by -1.
Buying is advised when the bearish component has reached extremity above the zero line (positive) and
Bullish component has reached extremity below the zero line (negative). Conversely, selling is advised when the bearish component has reached extremity below the zero line (negative) and the bullish component has reached extremity above the zero line (positive).
In other words, blue lines above zero and red lines below zero indicate bullish trend, and blue lines below zero and red lines above zero indicate bearish trend.
The bullish component (blue) is calculated by subtracting the Bollinger Band value from the current price.
The bearish component (red) is calculated as the sum of the Bulls Power and Bears Power indicator multiplied by -1.
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