gbCompositeIndex Ver 1.0, TraderGB, March 17, 2021
This is Constance Brown's Composite Index
Formula:
Momentum(RSI(Close, 14), 9) + SMA(RSI(Close, 3), 3)
It has two parts that are added together:
(a) A 9-period Momentum on a 14-period RSI
(b) A 3-period SMA on a 3-period RSI
The result is an unbounded RSI that better catches divergences than the traditional RSI indicator.
Note: This indicator uses Input rather than Close. Thus, you can feed any indicator into this indicator (i.e., On Balance Volume, etc).
Presentation Mode Options:
(1) Traditional : Shows traditional Composite Index
(2) Traditional with Bands: Shows traditional Composite Index with Bollinger Bands
(3) ZScore : Shows Composite Index in Z-Score
References:
https://aeroinvest.com/COMPOSITE_INDEX.pdf
https://coinclarity.com/trader-education-the-rsi-is-old-use-this-instead-powerful-strategy
Category NinjaTrader 8 Indicators and More
|
|
|
View Download Details