This indicator uses closing price data and is an excellent and highly responsive trend indicator with very little lag. The Chaikin Trend Indicator is calculated as follows (using 14 bars as example):
CTI = 2 * (14 bar EMA) - (14 bar EMA of the 14 bar EMA)
bars: number of bars for the exponential averages 3-200
offset: optional, number of offset bars 0-100, defaults to 0
increment: optional, value from 1-20, defaults to 1. When set to 1 it calculates using daily bar values. A value of 5 can be used to calculate weekly bars (approximately due to holidays).
series: optional, see below
The ideal time frame on a weekly basis (increment=5) is 45 bars, which can then be utilized by comparing the current close to the Chaikin Trend Indicator Close(0)/ChaikinTrend(45,0,5) to rank stocks, with a higher ranking being preferable.
You can also use the rate of change of the Chaikin Trend using the offset parameter to determine the trend of price momentum. For example ChaikinTrend(45,0,5) / ChaikinTrend(45,21,5) for the rate of change in one month (21 bars) or ChaikinTrend(45,0,5) / ChaikinTrend(45,21,5) for the two months rate of change.
On a daily chart (increment=1) shorter term period values can be used to profit from moving average crossovers to buy stocks which are moving into uptrends. For example: Close(0)/ChaikinTrend(21,0,1)
Series Parameter
By default, technical functions access the time series of the instrument in context. Normally, that is the Stock or ETF currently being evaluated or ranked. In specialized Ranking Nodes, the context depends on the node type. For example, in an "Industry Node" (used to rank Industries against each other), the industry benchmarks are the default context.
You can specify a different time-series in several ways like: using GetSeries(), specifying a StockID directly, or using a time series id. See the examples below.
Examples
Get the latest close price using Close(0, series) using different methods for different time series.
Using the ID directly | |
Using the StockID for SPY:USA* | Close(0, 24262) |
For the Industry series of the stock being evaluated | Close(0,#Industry) |
Using a Time Series Id | Close(0,$RUI) |
For the benchmark | Close(0, #Bench) |
Using GetSeries | |
Using a fully qualified ticker | Close(0, GetSeries("SPY:USA")) |
When USA is your default | Close(0, GetSeries("SPY")) |
See GetSeries() for more examples like for aggregate series | |
* StockIDs never change |
Predefined Series IDs
These are special series ids. Additional Series Ids can be found in the reference under: MISC→TIME SERIES IDs
Id | Description | Freq | OHLC |
Industry and Sector | |||
#Sector | Stock's Sector | Daily | C |
#SubSector | Stock's SubSector | Daily | C |
#Industry | Stock's Industry | Daily | C |
#SubIndustry | Stock's SubIndustry | Daily | C |
Miscellaneous | |||
#Bench | Benchmark closing prices | Daily | C |
#TNX | 10Y Treasury Note | Daily | OHLC |
FED Model series (chart) | |||
#SPRP | SP500 Risk Premium | Weekly | C |
#SPEPSCY | SP500 EPS CurrentY | Weekly | C |
#SPEPSNY | SP500 EPS NextY | Weekly | C |
#SPEPSCNY | SP500 EPS Blend Y | Weekly | C |
#SPEPSQ | SP500 EPS Blend Q | Weekly | C |
#SPEPSTTM | SP500 EPS Trailing 12 months | Weekly | C |
#SPYield | SP500 Yield | Weekly | C |
Special Series Ids for Moving Averages & Highest/Lowest functions
Id | Description | Context |
#Open | Open prices | Stock & ETF |
#High | High prices | Stock & ETF |
#Low | Low prices | Stock & ETF |
#Vol | Volumes | Stock & ETF |