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Random Walk Index

Formula for: MetaStock

indicator

Views: 3140

Added: December 14, 2007

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The following formulas, for the Random Walk Index, were constructed using information from the article "Are There PersistentCycles", by E. Michael Poulos, in the September 1992 TASC.

Code:

Random Walk Index
Max((Ref(HIGH,-1) - LOW) / ((Ref(Sum(ATR(1),2),-1) / 2) * Sqrt(2)),
Max((Ref(HIGH,-2) - LOW) / ((Ref(Sum(ATR(1),3),-1) / 3) * Sqrt(3)),
Max((Ref(HIGH,-3) - LOW) / ((Ref(Sum(ATR(1),4),-1) / 4) * Sqrt(4)),
Max((Ref(HIGH,-4) - LOW) / ((Ref(Sum(ATR(1),5),-1) / 5) * Sqrt(5)),
Max((Ref(HIGH,-5) - LOW) / ((Ref(Sum(ATR(1),6),-1) / 6) * Sqrt(6)),
Max((Ref(HIGH,-6) - LOW) / ((Ref(Sum(ATR(1),7),-1) / 7) * Sqrt(7)),
Max((Ref(HIGH,-7) - LOW) / ((Ref(Sum(ATR(1),8),-1) / 8) * Sqrt(8)),
(Ref(HIGH,-8) - LOW) / ((Ref(Sum(ATR(1),9),-1) / 9) * Sqrt(9)) )) )) )) )

Author: E. Michael Poulos
Source: http://www.equis.com

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