Overview
The percentage bar indicator calculates the percentage of the days move that reprsented the difference between the open and close. A large percentage bar indicates that the asset likely moved in a relative straight line from open to close.
{% PB = \frac{close - open}{high - low} %}
Trend strength can be calculated as the difference between open and close. A large difference indicates a strong move in one direction.
{% Trend \; Strength = (close - open) %}
The percentage bar trend is the trend strength weighted by the percentage bar.
{% PB \; Trend = \frac{close - open}{high - low} \times (close - open) %}