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I need help to create this indicator.
The %C indicator uses true range to measure trend strength, as fol-
lows:
1. Add each bar's true range in the 14-bar look-back period.
2. Divide this running total by the largest one-day true range
value of that look-backperiod.
3. Calculate the logarithm of the raw value from step 2.
4. Divide the result by the logarithm of the look-back
period (14, in this case).
5. Multiply by 100.
The following example uses 15-minute bars on the E-Mini Russell 2000
futures. On Sept. 12 at noon, the run-ning total of the E-Mini Russell
2000 futures' 14-bar true range was 47.3,and the largest one-bar
true-range ofthe past 14 bars was 5. The %C reading
would be:
1. 47.3/5 = 9.46.
2. log(9.46) = 0.9758.
3. log(14) = 1.1461
4. 0.9758/1.1461 = .8514
5. 0.8514*100 = 85.14
How do I translate this to Amibroker?
Thanks,
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