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Forex Indicator “Random Walk Index”

This indicator is applied in situations when it is necessary to determine whether the instrument of the market developing the trend or committing the random movements in the range of the trading.

This indicator attempts to define this by first determining the range of the stock instrument trading. The next step is about computing the series of RWI indices for the maximum of the period that is being under review. The most movement of the index pertaining to the RW is utilized as the current index. The market is developing the uptrend if the RWI of maximums is bigger than 1, while the downward trend occurs when the RWI of minimum is bigger than 1.

For the first time, this indicator was implemented on the 21st of December, 2006 in MQL4. And it was published in CodeBase.

 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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