Clarification regarding Random Walk Index indicator
Posted: Thu Mar 16, 2017 9:25 am
Hello all,
I am in the process of converting a VSA indicator I found from AFL to MT4 and am looking for a little bit of help. I have successfully converted most of the code however I became confused when I got to the trend analysis portion that uses the Random Walk Index. Specifically the following code:
I am unsure if this means that minperiodsRWIst, maxperiodsRWIst, minperiodsRWIlt, maxperiodsRWIlt are the bounding conditions of the RWI calculation so that the short term RWI is measuring price movement between periods 2 and 8 while long term is between periods 10 and 40. If this is the case I would have to make the following changes (in bold) to mladen's random_index_indicator and make an iCustom call.
whereas the initial code snippet would then become:
OR is it meant to measure the differences between a:
2 period RWIHi and an 8 period RWIHi
2 period RWILo and an 8 period RWILo
10 period RWIHi and a 40 period RWIHi
10 period RWILo and a 40 period RWILo
which would mean that no changes to the random_walk_index indicator would be needed and the iCustom call would look like:
Are either of these correct?
I am assuming the second way is the correct way but this is the first time I have dealt with the RWI and just want to make sure I am using it correctly.
Thanks for any help and sorry for all the code.
I am in the process of converting a VSA indicator I found from AFL to MT4 and am looking for a little bit of help. I have successfully converted most of the code however I became confused when I got to the trend analysis portion that uses the Random Walk Index. Specifically the following code:
Code: Select all
minperiodsRWIst = Param ( "Short term Min Periods", 2, 1, 9, 1);
maxperiodsRWIst = Param ( "Short term Max Periods", 8, 1, 9, 1);
minperiodsRWIlt = Param ( "Long Term Min Periods", 10, 1, 32, 1);
maxperiodsRWIlt = Param ( "Long term Max Periods", 40, 1, 64, 1);
Ground = RWIHi (minperiodsRWIst, maxperiodsRWIst);
Sky = RWILo (minperiodsRWIst, maxperiodsRWIst);
j = RWI(minperiodsRWIlt, maxperiodsRWIlt);
k = RWI(minperiodsRWIst, maxperiodsRWIst);
j2 = RWIHi (minperiodsRWIlt, maxperiodsRWIlt);
k2 = RWILo (minperiodsRWIlt, maxperiodsRWIlt);
Code: Select all
extern int minPeriod = 2;
extern int maxPeriod = 8;
double RWIUp[];
double RWIDown[];
//...........................................
for (i=limit, r=Bars-i-1; i>=0; i--,r++)
{
ranges[r] = MathMax(High[i+1],Close[i+2])-MathMin(Low[i+1],Close[i+2]);
double rwiUp = 0;
double rwiDo = 0;
double atr = ranges[r];
for (int k = minPeriod; k < maxPeriod; k++)
{
atr += ranges[r-k];
//
//
//
//
//
double denominator = (atr/(k+1.0))*MathSqrt(k+1);
if (denominator != 0)
{
rwiUp = MathMax(rwiUp,(High[i] - Low[i+k]) / denominator);
rwiDo = MathMax(rwiDo,(High[i+k] - Low[i]) / denominator);
}
}
RWIUp[i] = rwiUp;
RWIDown[i] = rwiDo;
Zline[i] = 1.00;
}
Code: Select all
Ground[i] = iCustom(NULL,0,"random_walk_index",minperiodsRWIst, maxperiodsRWIst,0,i);
Sky[i] = iCustom(NULL,0,"random_walk_index",minperiodsRWIst, maxperiodsRWIst,1,i);
j2[i] = iCustom(NULL,0,"random_walk_index",minperiodsRWIlt, maxperiodsRWIlt,0,i);
k2[i] = iCustom(NULL,0,"random_walk_index",minperiodsRWIlt, maxperiodsRWIlt,1,i);
j[i] = j2[i] - k2[i];
k[i] = Ground[i] - Sky[i];
2 period RWIHi and an 8 period RWIHi
2 period RWILo and an 8 period RWILo
10 period RWIHi and a 40 period RWIHi
10 period RWILo and a 40 period RWILo
which would mean that no changes to the random_walk_index indicator would be needed and the iCustom call would look like:
Code: Select all
Ground[i] = iCustom(NULL,0,"random_walk_index",maxperiodsRWIst, 0,i) - iCustom(NULL,0,"random_walk_index",minperiodsRWIst, 0,i);
Sky[i] = iCustom(NULL,0,"random_walk_index",maxperiodsRWIst,1,i) - iCustom(NULL,0,"random_walk_index",minperiodsRWIst,1,i);
j2[i] = iCustom(NULL,0,"random_walk_index",maxperiodsRWIlt,0,i) - Custom(NULL,0,"random_walk_index",minperiodsRWIlt,0,i);
k2[i] = iCustom(NULL,0,"random_walk_index", maxperiodsRWIlt,1,i) - iCustom(NULL,0,"random_walk_index", minperiodsRWIlt,1,i);
j[i] = j2[i] - k2[i];
k[i] = Ground[i] - Sky[i];
I am assuming the second way is the correct way but this is the first time I have dealt with the RWI and just want to make sure I am using it correctly.
Thanks for any help and sorry for all the code.
