OBV_RTT Trend Power for Amibroker (AFL)

marcheur

over 10 years ago

Amibroker (AFL)

This is an attempt to implement the indicator described in http://www.readtheticker.com.

The calculation from each days high, low, close and volume.
Bar Mid Point (BMP): (High+Low)/2.
Bullish Close: When close is above BMP.
Bearish Close: When close is below BMP.
Neutral Close: When close is equal to BMP.
The above is then weighted by volume, and then added to the previous bar result.

The output is:
1) When price closes well above the BMP, with good volume, the indicator will move higher.
2) When price closes well above the BMP, with poor volume, the indicator may or may not move higher.
3) When price closes slightly above BMP, with good volume, the indicator will move mildly higher.
4) When price closes slightly above BMP, with poor volume, the indicator may or may not move higher.
5) When price closes well below the BMP, with good volume, the indicator will move lower.
6) When price closes well below the BMP, with poor volume, the indicator may or may not move lower.
7) When price closes slightly below BMP, with good volume, the indicator will move mildly lower.
8) When price closes slightly below BMP, with poor volume, the indicator may or may not move lower.

Indicator / Formula

BMP= (H+L)/2;
BullishClose=IIf(C>BMP,BMP,0);
BearishClose=IIf(C<BMP,BMP,0);
NeutralClose=IIf(C==BMP,1,0);
RTT=Cum(BullishClose*V-BearishClose*V);

Plot( RTT, _DEFAULT_NAME(), ParamColor("Color", colorCycle ), ParamStyle("Style")  );
Plot( MA( RTT, 21 ), "MA21TTRPower", colorBlue, styleLine );

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