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Chande's TrendScore
Overview
Chande's Trendscore indicator was described by Tushar Chande in the September 1993 edition of "Stock & Commodities" magazine. The TrendScore attempts to make a quantative and qualiative determination of the direction and strength of a market trend by comparing the current close price to previous close prices over the last 20 periods.
Chande's Trendscore indicator was described by Tushar Chande in the September 1993 edition of "Stock & Commodities" magazine. The TrendScore attempts to make a quantative and qualiative determination of the direction and strength of a market trend by comparing the current close price to previous close prices over the last 20 periods.
Interpretation
The TrendScore indicator oscillates between +10 and -10. A +10 reading indicates a strong uptrend is underway. A -10 reading indicates a strong downtrend is underway. Readings above 0 suggest an upward trend of varying strength and readings below 0 suggest a downward trend of varying strength.
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