Randon Walk Indicator by C. Kase

[Ernie Bonugli <ebonugli@xxxxxxxx>]

Hi List,

In a nut shell, what is the principle behind the Randon Walk
Indicator as described by C Kase and Mile Poulos?
Multiple versions are around.   If I
could understand it maybe I would be
able to select the correct set of code?




-- 
Best regards,
 Ernie                            mailto:ebonugli@xxxxxxxx

PS - here are two versions. Others
exist.  Mark Brown has one and Pierre in France
yet another one.  I do not know the
authors for the following ones:

{Function:HIrwi}
{ This function is equal to Kase' Function XL.  IT is the RWI indicator
written about by Mile Poulos in TASC.  The indicator uses 0 as a minimum
value althouhg the RWI can be negative.}


vars: mlval(0);
mlval = 0;

for value99 = 8 to 65 begin
   value5 = ( high  - low [value99] )  / SquareRoot( value99 ) ;
   if value5> mlval then mlval = value5;
end;

value6 =average(TrueRange,34);

if  value6 > 0 then
K.HIrwi = mlval / value6 else K.HIrwi =K.HIrwi [1];


Second version:


Input: v1(numeric);
If  average(@TrueRange, v1) > 0 then
RWItS = (high[v1] - low)/( average(@TrueRange, v1) * SquareRoot(v1))
else RWItS = RWItS[1];