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Chande’s Trendscore

A technical indicator that attempts to identify strong trends.

Overview

Tushar Chande described the Trendscore indicator in the September 1993 edition of Stock & Commodities magazine.

By comparing the current close price to previous close prices over the last 20 periods, the TrendScore attempts to make a quantitative and qualitative determination of the direction and strength of a market trend.

Chande’s Trendscore on the GBP/CHF Daily Chart 4/10/2011
Chande's Trendscore
Source: VT Trader

Interpretation

The TrendScore indicator is an oscillator plotted between +10 and -10. A +10 reading indicates a strong uptrend is underway while a -10 reading indicates a strong downtrend is underway. A reading above 0 can be interpreted as a general bullish indication while a reading below 0 would be a general bearish indication.

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