iMAX3 Fast Trend Detector
iMAX3 is a 3 in one "hybrid" indicator based upon personal prior works... the original "iMAX" indicator and the follow on "iMAXhp," and "iMAXhpx" indicators. These indicators phase shift a "Modified Optimum Elliptic Filter" signal to obtain a phase crossing used to detect fast moving price trends. The calculations are based upon a three bar rate of change, and therefore are virtually independent of any relationship to longer periods, and that is why iMAX is naturally adaptive to dominant periods in market price action, without having to change, retune, or optimize indicator period settings. This, and increasing resistance to volitily between the modes... offers interesting possibilities to intelligently switch between modes as market volatility changes.
Another Metatrader Indicator