I'm still playing around with this (set) of indicators (and also learning how to program indicators in Ninjatrader (which I use for most of my charts here)).
For this, I took the lowest (by price) moving average and subtracted it from the highest. What I end up with is something like ADX to measure the strength of a trend, but ... also different in a way.
Take a look at a potential EURUSD play. Enter on cross of +DI and -DI on the ADX, confirmed by higher highs on the TrendStrengthA indicator. Notice Parabolic SAR got confused for a while, but quickly reasserted the trend after a few bars. The width of the moving averages increased until ADX topped out, which coincided with a topping in width. We get Parabolic SAR re-establishing a bearish realignment, followed by an attempt at higher highs with no confirmation by either ADX or the width. Notice however that the width is somewhat less sensitive to swings (look at the ADX before the entry point).
As a conclusion, this indicator might be mostly redundant and therefore pointless, but it was an interesting if simple programming exercise.
PS Maybe I could try taking the derivative of this indicator?
