Random Walk Index

[Apprentice]

Random Walk Index.png

Random Walk Index (RWI) determines if a security is is trending (uptrend or downtrend) or is in a random trading range..

The random walk index (RWI) is a technical indicator that attempts to determine if a stock's price movement is random or nature or a result of a statistically significant trend.

RANDOM WALK INDEX FORMULA
High = MAX((High - Low(n)) / (ATR(n) * SQRT(n)))
Low = MAX((High(n) - Low) / (ATR(n) * SQRT(n)))

The random walk index (RWI) by E. Michael Poulos is a measure of how much price ranges over N days differ from what would be expected by a random walk (randomly going up and down).
A bigger than expected range suggests a trend.

RWI.lua

RWI

(3.1 KiB) Downloaded 1767 times

The indicator was revised and updated

[boursicoton]

thanks for your velocity !

[Apprentice]

I found 4 different versions of this indicator.
So i need to do a little research,
before i decide wich will be the final version.

[Alexander.Gettinger]

MQL4 version of Random Walk Index: viewtopic.php?f=38&t=20875

[Surasit]

Dear Sir,
May I requested the strategy for RWI? Please.
I would like to set the alert whenever the line cross.
Thanks
Best regards

[jackfx09]

Great Indicator!

Can we please request a MTF, MCP Random Walk Index HEATMAP with the same cooling based on signal crosses. Red over green, green over red after price CLOSE.

thanks!

sjc

[Apprentice]

Updated.
Will write MTF, MCP Random Walk Index HEATMAP + RWI Strategy Tomorrow or earlier.

[Apprentice]

MTF, MCP Random Walk Index HEATMAP Can be found here.
viewtopic.php?f=17&t=24056

RWI Strategy Can be found here.
viewtopic.php?f=31&t=24057&p=41390#p41390

[Apprentice]

Indicator was revised and updated.