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Date/Time: Tue, 24 May 2022 00:30:12 +0000



[User Discussion] - Weinberg's "Range Indicator"

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[2013-06-13 10:20:20]
User20851 - Posts: 9
Hello,

Does Sierra Chart offer an indicator that works like Jack Weinberg's Range Indicator, or is such an indicator possible to add. A description is as follows:

Description

Developed by Jack Weinberg, Range indicator compares intraday range with inter-day range
Intraday range is bar’s (high – low) and inter-day range is (Close – Close-1)
Author had a strong belief that crossing of intraday range outside the inter-day range is an indication of end of current trend
It oscillates between 0 to 100 levels
  
Interpretation

RI crossing above level 80 is a signal to exit
RI below 20 is indication that a new trend is about to take charge
RI is useful to filter signal given by other studies


Thank you very much!

[2013-06-13 15:54:02]
vegasfoster - Posts: 444
Can you post the exact formula?
[2013-06-13 21:46:21]
User20851 - Posts: 9
Hi Vegasfoster and all,

I believe the formula would be here:

http://www.csidata.com/images/study_formulas/68.gif

Also, see attachment.

Thanks!


imagerange indicator.gif / V - Attached On 2013-06-13 21:45:51 UTC - Size: 2.11 KB - 515 views
[2013-06-14 03:58:24]
vegasfoster - Posts: 444
It looks slightly different than anything I can recall, so I can do it tomorrow if someone doesn't beat me to it.
[2013-06-14 04:12:11]
ganz - Posts: 1048
nobody can do it :)
[2013-06-14 05:32:12]
vegasfoster - Posts: 444
Oh contrare monfrare!
[2013-06-14 21:49:33]
vegasfoster - Posts: 444
I think ganz is right, output looks pretty screwy to me. I double checked the formulas and don't see any errors. On the surface, the W calculation is what seems off to me, but I could be wrong.
attachmentRangeIndicator.dll - Attached On 2013-06-14 21:48:35 UTC - Size: 19 KB - 448 views
attachmentRangeIndicator.cpp - Attached On 2013-06-14 21:48:46 UTC - Size: 1.45 KB - 458 views

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