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Date/Time: Mon, 07 Oct 2024 07:28:26 +0000



[User Discussion] - Brown Composite Index

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[2015-02-15 09:27:11]
ehlaban - Posts: 50
Here's Constance Brown's Composite Index.
attachmentehlBrownCompositeIndex.cpp - Attached On 2015-02-15 09:17:26 UTC - Size: 3.59 KB - 525 views
attachmentehlBrownCompositeIndex.dll - Attached On 2015-02-15 09:17:39 UTC - Size: 21 KB - 422 views
[2015-02-15 09:39:58]
Sierra Chart Engineering - Posts: 104368
Thank you for the contribution.
Sierra Chart Support - Engineering Level

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[2015-03-02 15:07:56]
moonmist - Posts: 127
Hi ehlaban,

Thanks for sharing the Brown Composite Index. I have been looking at it in the morning.

Can you add an option to choose between High, Low, Typical price, Close, etc., as one of the input parameter ? Although most people use the closing price as the default, in my experience, typical price, (H + L + C)/3, gives more reliable divergence signals for RSI.

Most implementation of Brown's indicators center around 50:

https://www.tradingview.com/v/qcmM1Ocn/

Yours seems to have the midpoint at 150. I have not been able to figure out the reason yet.


Date Time Of Last Edit: 2015-03-02 15:10:23
[2015-03-02 20:24:15]
ehlaban - Posts: 50
Good idea. I will make the change in a few days.
[2015-03-04 19:24:01]
ehlaban - Posts: 50
Here's the adapted code, you now can choose the input data.

The reason the midpoint is higher is because of the momentum calculation
in Sierra Chart. Despite that i'm convinced that the actual line drawn is
correct like the original from Brown. It's only not normalized around 100.


attachmentehlBrownCompositeIndex.cpp - Attached On 2015-03-04 19:23:21 UTC - Size: 3.78 KB - 531 views
attachmentehlBrownCompositeIndex.dll - Attached On 2015-03-04 19:23:34 UTC - Size: 22 KB - 489 views
[2015-03-04 20:06:15]
moonmist - Posts: 127
Thanks.

I have been looking for a modified version of RSI or TSI that may give new insight to price behavior:

http://www.elitetrader.com/et/index.php?threads/rsi-relative-strength-index-wilder-rmi-relative-momentum-index.267705/page-2#post-3809060

Constance Brown's Composite Index looks promising. I'll study it carefully within the next few days.




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