Description Usage Arguments Value References
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.
1 |
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. |
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.
http://www.tradesignalonline.com/en/lexicon/view.aspx?id=Value+Charts+Indicator
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