The Short-Term Trend provides a momentum-based view of the stock's current price action relative to its recent trading range.
Inputs Used:
- Current Price: The price you manually enter.
- Recent Highs: The highest prices of the last 5 trading days.
- Recent Lows: The lowest prices of the last 5 trading days.
The Logic:
A simple breakout logic is used to determine the trend:
- Uptrend: The Current Price is higher than the highest high of the last 5 days.
- Downtrend: The Current Price is lower than the lowest low of the last 5 days.
- Consolidation: The Current Price is between the highest high and lowest low of the last 5 days.