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Glen Wallace writes:
> There was an overbought/oversold indicator described in the June 2000 Futures
> Magazine called the Psychological Index. It looked sort of interesting, so I
> wrote the MetaStock code for it:
>
> {Futures Magazine, Vol.29 No.6, June 2000, P.48}
> LookBack:= Input("Number of lookback periods", 2, 100, 12);
> UThreshold:= Input("Upper threshold (%)", 0, 100, 75);
> LThreshold:= Input("Lower threshold (%)", 0, 100, 25);
> UpDay:= If(CLOSE > Ref(CLOSE,-1), 1, 0);
> PsychIndex:= Sum(UpDay,LookBack) / LookBack * 100;
> PsychIndex; UThreshold; LThreshold
Am I reading this right? This looks like no more than the % of days in
the past "N" periods that have closed up.
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