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| Added: August 23, 2008 |
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TradeStation, indicator
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The good, the bad, and the volatility.
The Volatility Quality Index can help you identify better trade opportunities by distinguishing between good and bad volatility. Formula for the system discussed in Advanced Strategies (p. 56) / August 2002 Active Trader Magazine:
Code:
Type : Indicator, Name : Volatility Quality Index
Variables:
VQI(0),
SumVQI(0);
If TrueRange <> 0 and (High - Low) <> 0 Then
VQI = ((Close - Close[1]) / TrueRange + (Close - Open) / (High - Low)) * 0.5
Else
VQI=VQI[1];
VQI = AbsValue(VQI) * ((Close - Close[1] + (Close - Open)) * 0.5);
SumVQI = SumVQI + VQI;
Plot1(SumVQI,"");
Plot2(Average(SumVQI,9),"");
Plot3(Average(SumVQI,200),"");
Author: Thomas Stridsman
Source: http://www.activetradermag.com
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