Ehlers Correlation Trend Indicator CTI
In his article “Correlation As A Trend Indicator” in issue May 2020 of TASC, author John Ehlers introduces a new trend indicator that is based on the correlation between a security’s price history and the ideal trend: a straight line. He describes methods for using the indicator to not only identify the onset of new trends but to identify trend failures as well.
The indicator is quite robust wrt price fluctuations due to its statistical correlation properties (instead of deriving the trend from the direct price values).
you can play around with it in trading view.
Here is the URL to the original article in the magazine.
http://traders.com/Documentation/FEEDbk_docs/2020/05/TradersTips.html
Details about the algorithm can be found here:Correlation As A Trend Indicator by John F.....pdf