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Tom DeMark Range Expansion Index for Amibroker (AFL)

Rating:
3 / 5 (Votes 7)
Tags:
oscillator, amibroker

Tom DeMark’s REI indicator oftentimes gives leading signals before other indicators begin signaling. Use this together with other leading indicators, for signal confirmation. This version also includes the TD Price Oscillator Qualifier (TD POQ) and DeMark’s Duration Analysis, for identifying extreme overbought and oversold conditions.

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Indicator / Formula

Copy & Paste Friendly
per = 5;
TD1 = H - Ref( H, -2 );
TD2 = L - Ref( L, -2 );
TD3 = IIf( ( H >= Ref( L, -5 ) OR H >= Ref( L, -6 ) ) AND( L <= Ref( H, -5 ) OR L <= Ref( H, -6 ) ), 1, 0 );
TD4 = IIf( ( Ref( H, -2 ) >= Ref( C, -7 ) OR Ref( H, -2 ) >= Ref( C, -8 ) ) AND( Ref( L, -2 ) <= Ref( C, -7 ) OR Ref( L, -2 ) <= Ref( C, -8 ) ), 1, 0 );
TD6 = ( TD1 ) + ( TD2 );
TD5 = IIf( ( TD3 ) + ( TD4 ) >= 1, ( TD6 ), 0 );
TD7 = Abs( TD1 ) + Abs( TD2 );
TDREI = ( ( TD5 ) + Ref( TD5, -1 ) + Ref( TD5, -2 ) + Ref( TD5, -3 ) + Ref( TD5, -4 ) ) / ( TD7 ) + Ref( TD7, -1 ) + Ref( TD7, -2 ) + Ref( TD7, -3 ) + Ref( TD7, -4 ) * 100;
TDREI = 100 * Sum( TD5, per ) / Sum( TD7, per ) ;
Plot( TDREI, _DEFAULT_NAME(), colorRed );
Plot(80, _DEFAULT_NAME(), colorBlue, styleDashed );
Plot(-80, _DEFAULT_NAME(), colorBlue, styleDashed );

1 comments

1. rashedbgd

Wow !! Very nice n effective to me !!!
Thanks a lot…now I am one step ahead in my trading with this one !!

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