The Trend Trader Index is being used to identify a short term trend for the Gold ETF (GLD). The Indicator calculates the simple moving average of the daily high and daily low price of the Gold ETF (GLD) over the past 20 days. A short term uptrend exists if the Gold ETF (GLD) is trading above the 20 day moving average line and a short term downtrend is given if the Gold ETF (GLD)is trading below the 20 day moving average line. Additionally the direction of the simple moving averages could also give additional information about the trend direction.
Bullish: GLD ETF closes above the 20 SMA high price
Bearish: GLD ETF closes below the 20 SMA low price