Advanced GET Studies - Joseph Trend Index

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The Joseph Trend Index (JTI) is based upon a trend-tracking and strength algorithm developed by Tom Joseph.

The primary objective while designing the JTI was to create a study that kept you from taking positions against a major trend. The JTI can also act as an early warning signal prior to a breakout of a trend and at the end of the trend. The JTI can also be used as a confirmation/confidence indicator when used in conjunction with the Expert Trend Locator (XTL) to add positions during a trend.

The JTI calculates a Trend Index value which can be set to track the short-, medium-, normal- or long-term Trend of the market. If the Trend Index Value is greater than (30 to 50), the model classifies the market as trading in an Uptrend. If the Trend Index Value is less than (-30 to -50) the model classifies the market as trading in a Downtrend. There are times when a market fails to generate a Trend Index Value; these are usually seen during extreme congestion periods.

Once the Trend Index Value is calculated, the software internally calculates and projects various price action values, which are dynamically adjusted to the current market conditions. This is used to classify the strength of the Trend and is displayed in four colors:

Red – The Trend is very strong
Blue – The Trend is of medium strength
Green – The Trend is of low strength
Yellow – No discernable trend--noise in the market

To display the Joseph Trend Index indicator on a chart, right-click on the chart. When the menu appears, place your cursor on Advanced GET Studies and left-click on GET: JTI:

To change any of the parameters of the JTI, right-click the JTI window and then left-click Edit Studies:

The Trend Length drop down box indicates what length of trend the JTI should display.

The Fast Mode check box is used when you want the JTI to be extremely sensitive to any change in the trend strength. This setting should be used with caution due to the fact that it can give many false signals.

The Band 1 and Band 2 number boxes indicate at what level the upper and lower bands will be drawn.The Bands Color selection list allows you to change the color of the bands drawn on the JTI.

The Trend Strength Color boxes indicate and allow you to change the color used for the different trend strengths when the JTI is drawn.