Description
The High-Low Index is a breadth custom indicator based on the Record High Percent, which relies on new n-days highs and new n-days lows.
Use this indicator for a long zone when the indicator values are above the zero level. Also, use this indicator for a short zone when the indicator values are below the zero level.
For more information about short-term and long-term price momentum pressure, this indicator is used in five periods (for example, 10, 20, 50, 100, 200; fig.2). Confluence in all different periods shows the exact direction of price movement in the near future. This method has been tested and used by my mentor, Iba.
using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;
using cAlgo.Indicators;
namespace cAlgo
{
[Levels(0)]
[Indicator(IsOverlay = false, TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class mHighLowIndex : Indicator
{
[Parameter("Periods (9)", DefaultValue = 9, MinValue = 2)]
public int inpPeriods { get; set; }
[Parameter("Smooth Type (sma)", DefaultValue = MovingAverageType.Simple)]
public MovingAverageType inpSmoothType { get; set; }
[Output("HighLowIndex avg", LineColor = "Black", LineStyle = LineStyle.Solid, Thickness = 1)]
public IndicatorDataSeries outHHLLavg { get; set; }
private IndicatorDataSeries _longdata, _shortdata;
private MovingAverage _longsmooth, _mashort;
protected override void Initialize()
{
_longdata = CreateDataSeries();
_shortdata = CreateDataSeries();
_longsmooth = Indicators.MovingAverage(_longdata, inpPeriods, inpSmoothType);
_mashort = Indicators.MovingAverage(_shortdata, inpPeriods, inpSmoothType);
}
public override void Calculate(int i)
{
_longdata[i] = (Bars.ClosePrices[i] / (Bars.ClosePrices[i] + Bars.LowPrices[i])) * 100;
_shortdata[i] = (Bars.ClosePrices[i] / (Bars.ClosePrices[i] + Bars.HighPrices[i])) * 100;
outHHLLavg[i] = (((_longsmooth.Result[i] + _mashort.Result[i]) / 2) - 50) / Symbol.PipSize;
}
}
}
mfejza
Joined on 25.01.2022
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: mHighLowIndex.algo
- Rating: 5
- Installs: 241
- Modified: 21/11/2023 12:23
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