VCI: ValueCharts Indicator

In pdrano/IKTrading: Custom indicators, signals, and rules

Description

Computes a range-normalized difference between current price and a running moving average. A value below -8 indicates oversold, while a value above 8 indicates overbought.

Usage

  VCI(OHLC, nLookback = 40, nRange = 8, pctRank = FALSE)

Arguments

OHLC	an OHLC time series
nLookback	a moving average window, default 40
nRange	a lookback window for the range computation. A number above 7 results in the following computation: take the difference between the nRange max high and min low. Add up that value, that value lagged by nRange+1, nRange*2, nRange*3, and nRange*4, and divide by 25. If nRange is 7 or less, the daily range is instead computed as the 5-day SMA of the following quantity: for each day, take the maximum of the difference between the high and low, or the absolute difference between current and previous close. Multiply that final quantity by .16.

Value

an OHLC-like 4-column output computing the values given OHLC prices, or a percent rank of the close variant. The column names will be VO, VH, VL, and VC, respectively.

References

http://www.tradesignalonline.com/en/lexicon/view.aspx?id=Value+Charts+Indicator

pdrano/IKTrading documentation built on May 6, 2019, 10:51 p.m.