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Hi Dave
It's more correctly called the Random Walk Index (RWI), which, together
with the Random Walk Index of Highs (RWIHI) and the Random Walk Index
of Lows (RWILO) is included in AB's built-in Indicators.
(RWIHI) minus (RWILO) appears to equate to (RWI).
In short it is used to determine if an issue is trending or in a random
trading range - although I have not evaluated it's usefulness in this
regard. Obviously that is not what I am using it for.
The actual calculation is described at
http://www.linnsoft.com/tour/techind/ranWalk.htm
The interpretation/description is at the bottom of the page.
I can't confirm that is the calculation that TJ has used in AB.
Regds
Gerard
--- In amibroker@xxxxxxxxxxxxxxx, "David Fitch" <davidfitch@xxx> wrote:
>
> Gerard,
>
> Thanks for this. Random Walk theory, I'm familiar with but not
Random Walk
> Indicator. AB help is no help...at least my quick search wasn't
fruitfull.
> How is this indicator constructed, what's it rationale? Or where can
I find
> out a little more
> Thanks
> Dave
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