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Random Walk Index for Amibroker (AFL)

Rating:
4 / 5 (Votes 1)
Tags:
oscillator, amibroker

The random walk index (RWI) indicator attempts to determine if a stock’s price movement is random or the result of a statistically significant trend. The random walk index attempts to determine when the market is in a strong uptrend or downtrend. It does this by measuring price ranges over the past N bars and how it differs from what would be expected by a random walk, which is going up or down randomly.

Screenshots

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Indicator / Formula

Copy & Paste Friendly
_SECTION_BEGIN("RWI");
minperiods = Param( "Min Periods", 9, 1, 200, 1 );
maxperiods = Param( "Max Periods", 40, 1, 200, 1 );
Plot( RWI( minperiods, maxperiods)  , _DEFAULT_NAME(), ParamColor( "Color", colorCycle ), ParamStyle("Style") );
_SECTION_END();

1 comments

1. morgen

Interesting!
Thank You!

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