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- 2014.06.11 11:11
- Updated:
- 2023.03.29 13:47
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Real author:
Ramdass
The Random Walk Index indicator is used in situations where it is necessary to determine whether the market instrument is in a developing trend or performs random motion in a trading range.
This indicator tries to do it by defining a trading range of the market instrument first. The next step is to calculate a series of RWI indices for a maximum of the analyzed period. The greatest movement of the index relative to RW is used as the current index. The market develops an uptrend, if RWI of highs > 1, while the downtrend is when RWI of lows > 1.
This indicator was first implemented in MQL4 and published in CodeBase on 21.12.2006.
Figure 1. The RWI indicator
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/6990
ExMass_HTF
The ExMass indicator with the timeframe selection option available in input parameters.
ExMass
The ExMass indicator helps to evaluate market fluctuations.
RWI_HTF
The RWI indicator with the timeframe selection option available in input parameters.
CronexChaikin
The MACD Indicator, in which the price series is replaced by the series of values of the Chaikin Oscillator technical indicator. It is drawn in the form of a colored cloud.