The Clear RTX Extension is an implementation of the Clear Method, a method for determining short term swing direction, described by Ron Black in his 2010 article in Stocks and Commodities Magazine titled Getting Clear With Short-Term Swings. The indicator can be plotted on any timeframe.
RTX Clear produces a color coded output line showing the current swing direction and produces a signal on any bar when the direction reverses. During an up swing, if price penetrates (clears) the highest low of the move, the swing remains intact, otherwise a down swing begins. During a down swing, as long as price continues to go lower, clearing (below) the lowest high of the move, the down swing remains intact, otherwise an up swing begins.
For more information see Stocks & Commodities V. 28:9 (16-21): Getting Clear With Short-Term Swings by Ron Black.
Presentation
