Tom DeMark Range Expansion Index for Amibroker (AFL)
realkaka about 16 years ago Amibroker (AFL)
Tom DeMark’s REI indicator oftentimes gives leading signals before other indicators begin signaling. Use this together with other leading indicators, for signal confirmation. This version also includes the TD Price Oscillator Qualifier (TD POQ) and DeMark’s Duration Analysis, for identifying extreme overbought and oversold conditions.
Indicator / Formula
Copy & Paste Friendly
per = 5;
TD1 = H - Ref( H, -2 );
TD2 = L - Ref( L, -2 );
TD3 = IIf( ( H >= Ref( L, -5 ) OR H >= Ref( L, -6 ) ) AND( L <= Ref( H, -5 ) OR L <= Ref( H, -6 ) ), 1, 0 );
TD4 = IIf( ( Ref( H, -2 ) >= Ref( C, -7 ) OR Ref( H, -2 ) >= Ref( C, -8 ) ) AND( Ref( L, -2 ) <= Ref( C, -7 ) OR Ref( L, -2 ) <= Ref( C, -8 ) ), 1, 0 );
TD6 = ( TD1 ) + ( TD2 );
TD5 = IIf( ( TD3 ) + ( TD4 ) >= 1, ( TD6 ), 0 );
TD7 = Abs( TD1 ) + Abs( TD2 );
TDREI = ( ( TD5 ) + Ref( TD5, -1 ) + Ref( TD5, -2 ) + Ref( TD5, -3 ) + Ref( TD5, -4 ) ) / ( TD7 ) + Ref( TD7, -1 ) + Ref( TD7, -2 ) + Ref( TD7, -3 ) + Ref( TD7, -4 ) * 100;
TDREI = 100 * Sum( TD5, per ) / Sum( TD7, per ) ;
Plot( TDREI, _DEFAULT_NAME(), colorRed );
Plot(80, _DEFAULT_NAME(), colorBlue, styleDashed );
Plot(-80, _DEFAULT_NAME(), colorBlue, styleDashed );
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Wow !! Very nice n effective to me !!!
Thanks a lot…now I am one step ahead in my trading with this one !!