Random Walk Index

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Random Walk Index

Postby Alexander.Gettinger » Thu Jul 05, 2012 4:52 pm

Original indicator: viewtopic.php?f=17&t=1166

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_MQL.PNG


Download:
RWI.mq4
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Re: Random Walk Index

Postby durlovjagiroad » Sun Mar 15, 2020 2:39 pm

need RWI with multi-timeframe
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Re: Random Walk Index

Postby Apprentice » Mon Mar 16, 2020 5:13 am

Your request is added to the development list.
Development reference 871.
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Re: Random Walk Index

Postby Apprentice » Tue Mar 17, 2020 1:04 pm

RWI BTF.mq4
(2.78 KiB) Downloaded 465 times

Try this version.
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