MetaStock™ Zone • Tworzenie Sytemów • Trader Shop • Forum & FAQ • Artykuły • Linki • Elliott Waves • EasyLanguage™ Zone
 
RSI of Momentum

The attachment below shows a picture of the momentum of volatility and below that it shows the RSI of volatility. I ahve described volatility as the differeance between the opn and the close for the previous XX number of bars. I use the indciators as follows on Daily bars to give me an idea of when to expect a alrge range day compared to the last XX number of bars (between the open and the close)

The next indicator measures the momentum of this indicator and when it is increasing or above zero we are i a volatility expansion phase so expect trend bars, wehn it is below zero we are in a volatility contraction phase so expect whippy markets. However when the RSI of volatility shows oversold reading on volatility expect range expansion VERY soon!


Type : Indicator, Name : RSI of Momentum

Inputs:
AVL(3),
RSILEN(3),
length2(3);

Vars: XXX(0);

if o>c then XXX=o-c;
if c>o then XXX=c-o;

plot1 (momentum((rsi(average(XXX,AVL),RSILEN)),Length2));
plot2 (0);

 
 
Cheers
Zipzap

To my knowledge I haven't seen anyone else using these sorts of indicators, but in reality it is just another way to view ATR etc... using a 0-100 scale.
Source / From: TOP
https://www.tradestation.com
Equis and MetaStock® and MetaStock Professional® are registered trademarks of Equis International. Achelis Binary Wave®, The DownLoader®,
Expert Advisor®, OptionScope®, Quotecenter® and Smart Charts® are trademarks of Equis International, a Thomson Reuters company.

TradeStation® Pro, TradeStation® 2000i, OptionStation®, SuperCharts®, PowerEditor® and EasyLanguage®
are registered trademarks of TradeStation Technologies, Inc. Other names and marks referred to are the property of their respective owners.

All information provided on this website is for educational purposes only. Trading involves risk, including possible loss of principal and other losses.
Ten i inne materiały na tej stronie zostały zamieszczone zostały jedynie w celach edukacyjnych, nie ponoszę żadnej odpowiedzialno¶ci za ich stosowanie.

Gra na giełdzie niesie ze sob± ryzyko poważnych strat finansowych!