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Composite index

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Mladen Rakic
65595
Mladen Rakic  

Two friends of mine directed me in this direction : it turned out that we do not have a Constance Browns composite index indicator coded .... yet

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A quote from Constance Brown regarding composite index :

The Composite Index was developed to solve the divergence failure problem in the RSI, but its ability to provide specific horizontal levels of support within the indicator adds to its value. The Composite Index takes the normalized formula of RSI and removes the normalization range restrictions. In Figure 5.7, the divergence to RSI in the Composite Index is seen at points N and P. The formula for the Composite Index uses an embedded momentum calculation with a short-term RSI smoothed.

So here it is.

Formula used is the one that comes in the "Breakthroughs in Technical Analysis : New Thinking from Worlds Top Minds" chapter dedicated to Constance Brown (formula can be found at page 81 of that book)

updated version here: https://www.forex-tsd.com/forum/debates-discussions/10996-composite-index#comment_756486


Composite index
Composite index
  • 2014.04.27
  • www.mql5.com
Two friends of mine directed me in this direction : it turned out that we do not have a Constance Browns composite index indicator coded...
Mladen Rakic
65595
Mladen Rakic  

...

Some links that might be useful in using the composite index :

The Aerodynamics Investments Inc site is the official Constance Brow site. So, instead of explaining, I thought that it would be useful to seek additional info there (the Composite index gallery is quite good)

The chart gallery : http://www.aeroinvest.com/chartgallery.htmThe composite index chart gallery : COMPOSITE INDEX - Aerodynamic Investments Inc

eKetas
22
eKetas  
mladen:
Some links that might be useful in using the composite index :

The Aerodynamics Investments Inc site is the official Constance Brow site. So, instead of explaining, I thought that it would be useful to seek additional info there (the Composite index gallery is quite good)

The chart gallery : http://www.aeroinvest.com/chartgallery.htmThe composite index chart gallery : COMPOSITE INDEX - Aerodynamic Investments Inc

Thanks for the indicator and gann/fibonacci info.

We all will save 400$ (no need to buy). mhhh.. free things are so sweet

Laurus12
55
Laurus12  

Chapter in Breakthroughs in Technical Analysis written by Constance Brown

Hi Guys,

I would just like to correct that chapter 5 on Price and Time with the formulas of the Composite Index indicator by Constance Brown in the book Breakthroughs in Technical Analysis are written by her and not dedicated to her.

- Laurus

ZTrader
262
ZTrader  

I'm confused... is this for Forex or for stock indices?

Laurus12
55
Laurus12  
ZTrader:
I'm confused... is this for Forex or for stock indices?

The Composite Index works for all markets and all time frames.

ozimacca
52
ozimacca  

I know this is an old thread but I have been watching the performance of this indi as an Overbought oversold guide.

Not infallible but I think it is better than RSI and would like to monitor it for a while. Without an alert I have to watch all the time so can only watch 1 pair.

If not available, is it possible for someone to add an alert just to the 3MA line with adjustable level lines

thanks

Cyclesurfer
9192
Cyclesurfer  

Composite index from here: https://www.mql5.com/en/forum/179426 updated to be compatible with new mt4 builds.

pol
4
pol  
mrtools:
Composite index from here updated to be compatible with new mt4 builds.

Could someone please make it MTF?

Thanks

Cyclesurfer
9192
Cyclesurfer  
polik:
Could someone please make it MTF? Thanks

Polik, made it mtf.

fawaz
6
fawaz  
mrtools:
Polik, made it mtf.

Thanks for the great work. Is it possible to add plotting divergence to the indicator?

Regards

Fawaz

12
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