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RAVI

Formula for: TradeStation

Views: 2337

Added: January 24, 2007

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Tags: TradeStation, indicator

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ELA CODE - > CHANDE'S RAVI
. To: omega-list@xxxxxxxxxx
. Subject: ELA CODE - > CHANDE'S RAVI
. From: "Andy Dunn" <andy@xxxxxxxx>
. Date: Sun, 04 Oct 1998 14:05:29 -0700
. In-Reply-To: <199810041351410400.036D7C8D@xxxxxxxx>
. References:
. Resent-Date: Sun, 4 Oct 1998 14:05:43 -0700
. Resent-From: omega-list@xxxxxxxxxx
. Resent-Message-ID: <"JUzx63.0.Ps7.dC-5s"@mx1>
. Resent-Sender: omega-list-request@xxxxxxxxxx

as promised...no bickering and 3...yes 3 pieces of code...here is the third if you pee your panties over ADX, then you're going to want to play with RAVI

WARNING: I make this stuff up as I go, and if my spelling is any indication, this programming may be riddled with unintentional and intentional freaky stuff. Please feel free to correct me where logic and code do not co-incide.

CHANDE'S RAVI

What Does It Do
//////////////////////////
This is another indicator used to predict trends...just like ADX. I read about it 2 weeks ago. Chande's latest book "BEYOND TECHNICAL ANALYSIS" is perhaps the best technical trading book that I have read in the last year. Check it out at Amazon for $56. If RAVI is over 3%, there is a trend.
http://www.amazon.com/exec/obidos/ASIN/0471161888/o/qid=907534867/sr=2-1/002-8108689-9755207

Enjoy

Code:

Type : Indicator, Name : Chande's RAVI

{Chande's RAVI}
{Indicator} Value1= average(close,7);
value2=average(close,65);
value3 = absvalue(100 * (value1 - value2) / value2);

plot1 (value3, "RIVA");
plot2( 3 , "3%");

Author: Tushar Chande
Source: http://www.purebytes.com

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