Re[2]: Intraday Intensity

[Ernie Bonugli <ebonugli@xxxxxxxx>]

sunfiles,

Here's the indicator wanted.  It is suppose to help indentify
oversold/overbought areas.  Tell me what you think.  I have mixed
feelings about it.  Note the kludge code to overcome a negative or
zero value or volume.  Also you will want to replace the
averaging function with something better.  I used JMA on
this one.

Good Luck.

{*******************************************************************
21 normalized average Occilator
*******************************************************************}
var: AvgClose(close of data1), AvgLow(low of data1), AvgHigh(high of data1), AvgVol(Volume of data1);
AvgClose=close of data1; AvgLow=low of data1; AvgHigh=high of data1; AvgVol=Volume of data1;
var: NorAverage(21);
var: Avg21(0);
if Avgclose <= 0 then Avgclose = AvgClose[1];
if AvgLow <= 0 then Avglow = AvgLow[1];
if Avghigh <= 0 then Avghigh = Avghigh[1];
if AvgVol <= 0 then AvgVol = AvgVol[1];
if Avgclose <= 0 then Avgclose = 1;
if AvgLow <= 0 then Avglow = 1;
if Avghigh <= 0 then Avghigh = 1;
if AvgVol <= 0 then AvgVol = 1;
value11 = (2*AvgClose - AvgHigh - AvgLow);
if value11  <> 0 then value22 = value11/(AvgHigh-AvgLow)*AvgVol else value22 = value22[1];
Avg21 = average(value22,NorAverage)/average(AvgVol,NorAverage)*100;
plot1(Avg21);
plot2(bollingerband(plot1,100,1.5),"Top",yellow);
plot3(bollingerband(plot1,100,-1.5),"Bottom",cyan);





Regards,
Ernie
ebonugli@xxxxxxxx