I am new to Amibroker language, and not in touch with programming in general for some time now. I read about %C indicator in "Futures & Options Trader" magazine (issue Oct. 2008) Here is what is says:
===================================== The %C indicator uses true range to measure trend strength, as follows: 1. Add each bar's true range in the 14-bar look-back period. 2. Divide this running total by the largest one-day true range value of that look-back period. 3. Calculate the logarithm of the raw value from step 2. 4. Divide the result by the logarithm of the look-back period (14, in this case). 5. Multiply by 100. The following example uses 15-minute bars on the E-Mini Russell 2000 futures. On Sept. 12 at noon, the running total of the E-Mini Russell 2000 futures' 14-bar true range was 47.3,and the largest one-bar true-range of the past 14 bars was 5. The %C reading would be: 1. 47.3/5 = 9.46. 2. log(9.46) = 0.9758. 3. log(14) = 1.1461 4. 0.9758/1.1461 = .8514 5. 0.8514*100 = 85.14 Therefore, the %C indicator's value is 85.14. Logarithms are used calculation to make sure the extreme levels range from one to 99. ============================================================== Can someone help to code this? Thanks in advance, - SRJ
