LazyBear

Indicators: Constance Brown Composite Index & RSI+Avgs

I am a big fan of Constance Brown. Her book "Technical Analysis for Trading Professionals" is an absolute classic (get the 2nd edition).

I have included here 2 of the indicators she uses in all her charts.

Composite Index
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This is a formula Ms Brown developed (Cardwell may not agree!) to identify divergence failures with in the RSI . This also highlights the horizontal support levels with in the indicator area.

This index removes the normalization range restrictions in RSI . This means it is not bound with in 0-100 range. Also, this has embedded momentum calculation in it.

The fine nuances of this indicator are not documented well enough, if you find some good documentation, do let me know. Always use this with RSI (like the next one).

RSI+Avgs
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This is plain 14 period RSI with a 9-period EMA and 45-period SMA overlaid.

List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970
Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.

Vous voulez utiliser ce script sur un graphique ?
//
// @author LazyBear
// Code from book "Breakthroughs in Technical Analysis" pg 95. 
//
// If you use this code in its orignal/modified form, do drop me a note. 
// 
study(title="Constance Brown Composite Index [LazyBear]", shorttitle="CBIDX_LB")
src = close
rsi_length=input(14, title="RSI Length")
rsi_mom_length=input(9, title="RSI Momentum Length")
rsi_ma_length=input(3, title="RSI MA Length")
ma_length=input(3, title="SMA Length")
fastLength=input(13)
slowLength=input(33)

r=rsi(src, rsi_length)
rsidelta = mom(r, rsi_mom_length)
rsisma = sma(rsi(src, rsi_ma_length), ma_length)
s=rsidelta+rsisma

plot(s, color=red, linewidth=2)
plot(sma(s, fastLength), color=green)
plot(sma(s, slowLength), color=orange)