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Mass Index
Source: https://fxcodebase.com/code/viewtopic.php?f=48&t=64729
Forum: 48 · Topic 64729 · 1 post(s)
Mass Index
Alexander.Gettinger · Fri Jun 02, 2017 2:15 pm
The mass index serves for finding turns in trends. It is based on changes between maximum and minimum prices. If the amplitude gets wider, the mass index grows; if it gets narrower, the index gets smaller.
Calculation:
MI = SUM (EMA (HIGH - LOW, 9) / EMA (EMA (HIGH - LOW, 9), 9), N)
Where: SUM — means a sum; HIGH — the maximum price of the current bar; LOW — the minimum price of the current bar; EMA — the exponential moving average; N — the period of the indicator (the number of values added).
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